SPDR Gold Shares $GLD Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC cut its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 39.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,508 shares of the exchange traded fund’s stock after selling 16,123 shares during the quarter. SPDR Gold Shares accounts for approximately 1.0% of Royal Fund Management LLC’s holdings, making the stock its 22nd largest position. Royal Fund Management LLC’s holdings in SPDR Gold Shares were worth $10,546,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Calder Financial LLC acquired a new stake in SPDR Gold Shares during the fourth quarter worth about $807,000. Crescent Grove Advisors LLC grew its holdings in shares of SPDR Gold Shares by 25.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock worth $6,230,000 after purchasing an additional 3,175 shares during the period. Arcus Capital Partners LLC grew its holdings in shares of SPDR Gold Shares by 90.3% during the 1st quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock worth $3,633,000 after purchasing an additional 4,005 shares during the period. Ervin Investment Management LLC acquired a new stake in SPDR Gold Shares during the 4th quarter worth approximately $7,178,000. Finally, Cidel Asset Management Inc. raised its holdings in SPDR Gold Shares by 69.8% in the first 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. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.5%

GLD opened at $371.08 on Thursday. SPDR Gold Shares has a 52-week low of $300.95 and a 52-week high of $509.70. The company has a 50 day moving average of $385.54 and a two-hundred day moving average of $423.10. The company has a market cap of $131.21 billion, a P/E ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: The Fed’s decision to hold rates steady sparked a relief rally in gold. A less aggressive policy outlook could support non-yielding assets such as gold and GLD, although Fed Chair Kevin Warsh’s guidance remains important. Gold price jumps as Federal Reserve leaves interest rates unchanged
• Positive Sentiment: Retail investors are returning to precious metals after the months-long selloff. The Royal Mint reported recovering bullion demand, particularly for digital silver, signaling that some investors are buying the dip. Retail investors buy the dip as Royal Mint reports solid demand
• Positive Sentiment: Gold is holding above the psychologically important $4,000-per-ounce level and has defended key technical support. A move above nearby resistance could confirm a bullish reversal and provide an additional catalyst for GLD. Gold price forecast: Breakout retest sets stage for next advance
• Positive Sentiment: Ongoing central-bank buying and ETF inflows continue to provide underlying support for gold despite recent weakness. ETF inflows support gold ahead of Fed week

SPDR Gold Shares 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.