Independent Financial Group LLC Purchases Shares of 45,589 SPDR Gold Shares $GLD

Independent Financial Group LLC acquired a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 45,589 shares of the exchange traded fund’s stock, valued at approximately $19,617,000. SPDR Gold Shares accounts for about 0.6% of Independent Financial Group LLC’s portfolio, making the stock its 21st largest position.

Several other hedge funds have also modified their holdings of GLD. WPG Advisers LLC purchased a new position in SPDR Gold Shares during the fourth quarter worth approximately $25,000. Timmons Wealth Management LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter worth $26,000. Chapman Financial Group LLC acquired a new position in SPDR Gold Shares in the second quarter valued at $26,000. Vestwell Advisors LLC purchased a new stake in SPDR Gold Shares during the third quarter valued at about $27,000. Finally, Eukles Asset Management purchased a new stake in SPDR Gold Shares during the fourth quarter valued at about $27,000. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares News Summary

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

• Negative Sentiment: U.S. retail sales, jobless claims, and regional manufacturing data all came in stronger than expected, supporting the dollar and yields while weighing on gold. Update: Gold Trades Lower, Dollar and Yields Rise as US Retail Sales Growth Eased in June
• Negative Sentiment: Spot gold slipped below key psychological support near $4,000 as traders reacted to firmer yields and a stronger dollar, suggesting more near-term downside for bullion. Gold and silver fall as Fed-rate relief fades after data – Kitco AM Report
• Negative Sentiment: Multiple market reports flagged technical weakness, with gold breaking down from resistance and traders watching for deeper support levels if selling continues. Gold (XAU/USD) Price Forecast: Will Gold Break Below Major Support Levels?
• Negative Sentiment: GLD-specific flow data also looks unfavorable, with reports of roughly $14 billion to $15 billion in investor outflows since March, raising concerns about demand for the ETF itself. SPDR Gold Shares ETF sees $14B outflows since March 1 amid cost concerns

SPDR Gold Shares Price Performance

SPDR Gold Shares stock opened at $364.96 on Friday. The company has a market cap of $128.17 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month high of $509.70. The stock’s 50-day moving average is $395.05 and its 200-day moving average is $425.09.

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.