SPDR Gold Shares $GLD Stake Lifted by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 54.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 306,968 shares of the exchange traded fund’s stock after buying an additional 107,799 shares during the period. SPDR Gold Shares accounts for 3.1% of Elevation Point Wealth Partners LLC’s investment portfolio, making the stock its 2nd biggest holding. Elevation Point Wealth Partners LLC’s holdings in SPDR Gold Shares were worth $132,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GLD. Morgan Stanley increased its stake 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 valued at $5,506,229,000 after purchasing an additional 2,539,266 shares during the last quarter. Corient Private Wealth LLC lifted 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 worth $1,565,118,000 after buying an additional 3,360,966 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. Ameriprise Financial Inc. boosted its holdings in shares of SPDR Gold Shares by 3.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,555,831 shares of the exchange traded fund’s stock valued at $554,139,000 after buying an additional 50,756 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of SPDR Gold Shares in the 4th quarter valued at $474,952,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold jumped after the June payroll report came in below expectations, pressuring the U.S. dollar and boosting rate-cut hopes — a direct tailwind for SPDR Gold Shares (GLD). Gold bulls charge back on Wall Street and Main Street after weak jobs report dispels rate hike fears and drives gold above $4,100/oz
• Positive Sentiment: Multiple reports said gold rallied above $4,100/oz as weak U.S. payrolls and slower hiring strengthened the case for easier Fed policy, which supports GLD by lifting bullion prices. Update: Gold Rises as Weak US Payrolls Pressure the Dollar, Support Rate Outlook
• Positive Sentiment: Commentary that central banks are still betting on gold and even shifting away from Treasuries reinforces long-term demand for the metal, a supportive backdrop for GLD. Central banks are still betting on gold
• Neutral Sentiment: Analysts noted gold may be near fair value and still in a broader secular bull case, suggesting upside potential remains but without a clear near-term catalyst by itself. Gold is near fair value, setting the stage for the next leg higher – WisdomTree’s Shah
• Negative Sentiment: Some market commentary warned that gold is still facing resistance and a broader downtrend may not be fully broken, which could limit additional gains in GLD if the rally stalls. Gold (XAU/USD) Price Forecast: Resistance Cluster Caps Upside Momentum
• Negative Sentiment: Earlier reports highlighted that gold had been under pressure from high interest rates and a recent correction, reminding investors that GLD remains sensitive to renewed Fed-hike fears and dollar strength. Gold prices fall further after worst quarter in 13 years as interest rate fears hit bullion

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $378.13 on Friday. The firm’s fifty day moving average price is $405.63 and its 200 day moving average price is $427.25. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month high of $509.70. The company has a market capitalization of $133.10 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

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.