Lexington Hill Partners LLC Takes Position in SPDR Gold Shares $GLD

Lexington Hill Partners LLC bought a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,421 shares of the exchange traded fund’s stock, valued at approximately $1,752,000. SPDR Gold Shares accounts for 1.3% of Lexington Hill Partners LLC’s investment portfolio, making the stock its 17th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLD. Morgan Stanley raised its position in SPDR Gold Shares by 22.4% in 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. Corient Private Wealth LLC grew its position in shares of SPDR Gold Shares by 571.3% during the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock valued at $1,565,118,000 after acquiring an additional 3,360,966 shares during the period. First Eagle Investment Management LLC increased its stake in shares of SPDR Gold Shares by 2.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,531,196 shares of the exchange traded fund’s stock worth $899,764,000 after purchasing an additional 66,416 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of SPDR Gold Shares during the 3rd quarter worth approximately $556,282,000. Finally, Ameriprise Financial Inc. increased its stake in shares of SPDR Gold Shares by 3.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,555,831 shares of the exchange traded fund’s stock worth $554,139,000 after purchasing an additional 50,756 shares during the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about SPDR Gold Shares

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

• Negative Sentiment: Gold prices are retreating as the dollar tests yearly highs and traders reprice the Fed’s “higher-for-longer” message after the policy meeting. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
• Negative Sentiment: Gold is also being pressured by stronger U.S. data, including a rebound in the Philly Fed survey and solid labor-market readings, which reduce expectations for near-term easing. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June
• Neutral Sentiment: Some analysts say gold ETFs still deserve a place in long-term portfolios because of central-bank buying and diversification benefits, which may help limit downside over time. Why Gold ETFs Still Deserve a Place in Long-Term Portfolios
• Neutral Sentiment: Broader geopolitical uncertainty and central-bank reserve accumulation continue to provide a long-term backdrop of support, even as short-term pricing weakens. Central banks are bringing gold reserves home as geopolitical risks rise
• Negative Sentiment: Technical analysts warn that gold has broken lower from recent resistance and may be heading toward key support zones, suggesting more near-term downside for GLD if the selling continues. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?

SPDR Gold Shares Trading Down 0.4%

NYSEARCA:GLD opened at $387.12 on Friday. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70. The firm’s 50 day moving average is $418.52 and its 200 day moving average is $428.27. The stock has a market capitalization of $140.80 billion, a PE ratio of -32.43 and a beta of 0.14.

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.