Senator Investment Group LP Cuts Stock Holdings in SPDR Gold Shares $GLD

Senator Investment Group LP lowered its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 7.1% during the fourth quarter, Holdings Channel reports. The fund owned 30,000 shares of the exchange traded fund’s stock after selling 2,296 shares during the period. Senator Investment Group LP’s holdings in SPDR Gold Shares were worth $11,889,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GLD. Morgan Stanley increased its position in shares of SPDR Gold Shares by 22.4% during the fourth quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after acquiring an additional 2,539,266 shares during the period. Bank of Montreal Can acquired a new position in shares of SPDR Gold Shares during the third quarter worth $556,282,000. Marino Management LLC acquired a new position in shares of SPDR Gold Shares during the fourth quarter worth $438,475,000. Corient Private Wealth LLC grew its stake in shares of SPDR Gold Shares by 108.1% during the second quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock worth $327,500,000 after purchasing an additional 559,507 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in shares of SPDR Gold Shares by 1,158.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 504,462 shares of the exchange traded fund’s stock worth $199,923,000 after purchasing an additional 464,376 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 2.6%

Shares of GLD stock opened at $396.55 on Tuesday. The firm has a fifty day moving average price of $420.83 and a 200 day moving average price of $428.13. The company has a market cap of $144.23 billion, a P/E ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold prices jumped to multi-day highs after the U.S.-Iran ceasefire/truce reduced geopolitical risk and lowered inflation expectations, boosting GLD. Gold clears $4,300 as Hormuz deal cuts oil, yield pressure – Kitco PM Report
• Positive Sentiment: Several market reports said gold continued to climb as oil prices tumbled, U.S. yields fell, and the dollar weakened, all of which are supportive for gold prices and GLD. Update: Gold Sharply Higher As the U.S. and Iran Reach a Truce, Easing Inflation Worries
• Positive Sentiment: Analysts noted that gold held near session highs as weak U.S. manufacturing data and rising input prices reinforced expectations for easier Fed policy, which can further support bullion. Gold prices holding near session highs as Empire State Survey falls to 5.7 in June
• Neutral Sentiment: One report said the London Bullion Market Association may shift its auction timing to better serve Asian traders; this is more of a market-structure development than a direct catalyst for GLD. Gold Jumps as Benchmark Debate Builds
• Negative Sentiment: Some analysts warned that higher inflation could still keep rate-cut expectations in check, which may limit further upside for gold if Treasury yields rise again. Gold and silver rally after Iran-U.S. deal, but face headwinds from rate hike expectations – Heraeus

SPDR Gold Shares Company Profile

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.