Gryphon Financial Partners LLC Cuts Position in SPDR Gold Shares $GLD

Gryphon Financial Partners LLC trimmed its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 81.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 618 shares of the exchange traded fund’s stock after selling 2,691 shares during the period. Gryphon Financial Partners LLC’s holdings in SPDR Gold Shares were worth $266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GLD. Calder Financial LLC acquired a new position in SPDR Gold Shares during the 4th quarter worth $807,000. Crescent Grove Advisors LLC raised its position in SPDR Gold Shares by 25.3% in the 4th quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock valued at $6,230,000 after purchasing an additional 3,175 shares in the last quarter. Arcus Capital Partners LLC boosted its stake in shares of SPDR Gold Shares by 90.3% in the 1st quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after buying an additional 4,005 shares during the period. Cidel Asset Management Inc. boosted its stake in shares of SPDR Gold Shares by 69.8% in the 1st quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock valued at $1,449,000 after buying an additional 1,384 shares during the period. Finally, Ervin Investment Management LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter valued at about $7,178,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $368.41 on Monday. The business has a 50-day simple moving average of $393.74 and a 200-day simple moving average of $424.88. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70. The company has a market cap of $129.31 billion, a PE ratio of -32.43 and a beta of 0.17.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
• Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback

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.