SPDR Gold Shares $GLD Position Lessened by Westover Capital Advisors LLC

Westover Capital Advisors LLC lessened its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 5.8% in the first quarter, HoldingsChannel.com reports. The fund owned 45,512 shares of the exchange traded fund’s stock after selling 2,811 shares during the period. SPDR Gold Shares accounts for about 3.6% of Westover Capital Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Westover Capital Advisors LLC’s holdings in SPDR Gold Shares were worth $19,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. WPG Advisers LLC bought a new position in shares of SPDR Gold Shares in the 4th quarter worth $25,000. Chapman Financial Group LLC bought a new stake in shares of SPDR Gold Shares during the 2nd quarter worth $26,000. Timmons Wealth Management LLC purchased a new position in SPDR Gold Shares in the fourth quarter worth $26,000. Vestwell Advisors LLC purchased a new position in SPDR Gold Shares in the third quarter worth $27,000. Finally, Eukles Asset Management bought a new position in SPDR Gold Shares in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.1%

NYSEARCA GLD opened at $372.35 on Thursday. The stock’s 50-day simple moving average is $396.38 and its two-hundred day simple moving average is $425.45. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70. The company has a market capitalization of $130.77 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares News Roundup

Here are the key news stories impacting SPDR Gold Shares this week:

• Positive Sentiment: Gold prices are benefiting from cooler U.S. producer and consumer inflation readings, which have pulled Treasury yields and the dollar lower and improved the appeal of bullion. Gold edges higher, silver slips as oil keeps inflation risk alive – Kitco PM Report
• Positive Sentiment: Several market updates say gold is finding footing and holding above $4,000, with some strategists viewing the consolidation as constructive rather than a breakdown. Gold holds firm above $4,000 as investors look beyond inflation fears – Saxo’s Hansen
• Positive Sentiment: Geopolitical tension and policy uncertainty continue to support sovereign and safe-haven gold demand, especially as some analysts say central banks are still buying. Fed won’t hike but hold, Warsh may have started too hawkish, and U.S. policy is driving sovereign gold demand – Natixis’ Christopher Hodge
• Neutral Sentiment: Technical commentary suggests gold is still below major resistance, but weakening downside momentum and a possible double-bottom pattern could point to a rebound if buyers regain control. Gold (XAU/USD) Price Forecast: Can Gold Break Out Above Key Resistance?
• Neutral Sentiment: One article argued investors should prefer bullion over gold miners for lower volatility, which reinforces the case for GLD as a relatively stable way to play the commodity. SPDR Gold Shares vs Sprott Gold Miners ETF. Should Investors Go For Bullion or Mining Stocks to Play the Comnmodity Boom?
• Negative Sentiment: Gold has struggled at resistance near $4,100 and some reports note occasional pullbacks or flat trading when yields rise, which could limit upside in the near term. Gold Flat Amid Rising Oil Prices

About SPDR Gold Shares

SPDR Gold Trust (the Trust) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust’s business activity is the investment of gold. The Trust creates and redeems Shares from time to time, but in one or more Baskets (a Basket equals a block of 100,000 Shares). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.