SPDR Gold Shares (NYSEARCA:GLD) Sees Significant Growth in Short Interest

SPDR Gold Shares (NYSEARCA:GLD) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 15,662,128 shares, a growth of 72.1% from the May 31st total of 9,100,030 shares. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily volume of 8,486,743 shares, the short-interest ratio is currently 1.8 days.

More SPDR Gold Shares News

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

• Positive Sentiment: Spot gold is on track for its first weekly gain in a month as traders scale back September Fed rate-hike bets, boosting demand for non-yielding assets like gold. Gold prices set for first weekly rise in a month as investors scale back Fed rate hike bets
• Positive Sentiment: A softer-than-expected U.S. jobs report reinforced the view that the Fed may stay on hold longer, helping gold rally and improving the near-term backdrop for GLD. Gold Rises After Cooler-Than-Expected U.S. Jobs Report
• Positive Sentiment: Multiple reports said gold climbed above the $4,100 level after weak payroll data pressured the dollar and reduced fears of further tightening, a bullish setup for the ETF. 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
• Neutral Sentiment: Some commentary noted that gold remains technically capped by resistance and that the recent pullback has not fully reversed the broader bearish trend, which could limit upside if macro data improves. Gold (XAU/USD) Price Forecast: Resistance Cluster Caps Upside Momentum
• Negative Sentiment: One article pointed out that GLD‘s 0.40% expense ratio can drag on long-term returns versus cheaper alternatives, which is a structural headwind for investors. GLD’s 0.40% Fee Quietly Costs You $40 Per Year on Every $10,000 While Cheaper Rivals Charge Half

Hedge Funds Weigh In On SPDR Gold Shares

A number of institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in SPDR Gold Shares by 20.4% in the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after buying an additional 1,903 shares in the last quarter. Bison Wealth LLC raised its position in shares of SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after buying an additional 2,600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of SPDR Gold Shares during the 1st quarter worth $16,014,000. Schnieders Capital Management LLC. lifted its holdings in shares of SPDR Gold Shares by 4.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after acquiring an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in SPDR Gold Shares in the second quarter worth $337,000. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Stock Performance

SPDR Gold Shares stock opened at $378.13 on Friday. SPDR Gold Shares has a fifty-two week low of $300.95 and a fifty-two week high of $509.70. The stock has a market cap of $133.10 billion, a P/E ratio of -32.43 and a beta of 0.17. The firm’s fifty day moving average price is $405.63 and its 200-day moving average price is $427.25.

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.