CoreCap Advisors LLC Acquires 20,814 Shares of SPDR Gold Shares $GLD

CoreCap Advisors LLC raised its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 52.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 60,242 shares of the exchange traded fund’s stock after acquiring an additional 20,814 shares during the quarter. SPDR Gold Shares makes up about 0.7% of CoreCap Advisors LLC’s portfolio, making the stock its 21st largest holding. CoreCap Advisors LLC’s holdings in SPDR Gold Shares were worth $22,192,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Prepared Retirement Institute LLC grew its stake in shares of SPDR Gold Shares by 1.6% in the fourth quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock worth $526,000 after purchasing an additional 21 shares during the last quarter. Hughes Financial Services LLC raised its position in SPDR Gold Shares by 3.4% during the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 22 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its position in SPDR Gold Shares by 28.7% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 25 shares during the last quarter. Leisure Capital Management raised its position in SPDR Gold Shares by 1.9% during the 4th quarter. Leisure Capital Management now owns 1,371 shares of the exchange traded fund’s stock worth $543,000 after purchasing an additional 25 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC lifted its holdings in SPDR Gold Shares by 3.3% during the 4th quarter. Parr Mcknight Wealth Management Group LLC now owns 772 shares of the exchange traded fund’s stock worth $306,000 after buying an additional 25 shares during the period. Institutional investors own 42.19% of the company’s stock.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Cooling labor data supports gold: June JOLTS job openings fell more than expected to 7.36 million, reinforcing expectations that weaker employment could eventually give the Federal Reserve room to ease policy. Gold also remains supported ahead of Friday’s nonfarm payrolls report. Gold price catching a bid as JOLTS job openings drop to 7.36 million
• Positive Sentiment: Structural demand remains strong: The Bank of Korea began a long-term domestic gold-buying program, adding to record central-bank demand. Central banks purchased about 289 metric tonnes in the second quarter, while Tether added roughly 14 tonnes and increased its physical gold holdings above 146 tonnes. These purchases provide a longer-term support base for GLD. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Technical momentum is improving: Gold is holding above its 20-day moving average, with resistance near $4,166 and $4,203. A break above those levels could attract additional buying and improve sentiment toward GLD. Gold XAU/USD Price Forecast: Can Gold Break Above $4,203?
• Neutral Sentiment: Investors remain focused on competing macro signals: Safe-haven demand related to Middle East tensions and shifting Fed expectations is supporting gold, but improving U.S. activity data and uncertainty ahead of payrolls are keeping the metal in a broad range near the $4,000 area. Gold Rises; Focus on U.S. Labor Data
• Negative Sentiment: Yields and fund flows remain headwinds: Higher real and long-term Treasury yields increase the opportunity cost of holding non-yielding gold. GLD also saw reported outflows of nearly $113 million, indicating that some investors are favoring income-producing assets. Tether Strikes Gold: Crypto’s Physical Pivot

SPDR Gold Shares Trading Up 0.7%

NYSEARCA GLD opened at $374.16 on Wednesday. The business’s 50-day moving average price is $382.26 and its two-hundred day moving average price is $421.76. SPDR Gold Shares has a 12 month low of $305.19 and a 12 month high of $509.70. The firm has a market capitalization of $132.12 billion, a PE ratio of -32.43 and a beta of 0.17.

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.