SPDR Gold Shares $GLD Stock: John Boyer Inc. Trims Position

John Boyer Inc. lowered its position in SPDR Gold Shares (NYSEARCA:GLD) by 99.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 652 shares of the exchange traded fund’s stock after selling 96,032 shares during the period. John Boyer Inc.’s holdings in SPDR Gold Shares were worth $248,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of Korea bought a new stake in shares of SPDR Gold Shares during the second quarter valued at approximately $250,411,831. CI Investments Inc. grew its stake in SPDR Gold Shares by 96.7% in the first quarter. CI Investments Inc. now owns 282,364 shares of the exchange traded fund’s stock worth $121,498,000 after purchasing an additional 138,846 shares during the period. Fifth Third Bancorp grew its stake in SPDR Gold Shares by 83.0% in the first quarter. Fifth Third Bancorp now owns 298,497 shares of the exchange traded fund’s stock worth $128,440,000 after purchasing an additional 135,373 shares during the period. Public Employees Retirement System of Ohio bought a new position in SPDR Gold Shares in the first quarter worth $46,816,000. Finally, Elevation Point Wealth Partners LLC raised its holdings in SPDR Gold Shares by 54.1% in the first quarter. Elevation Point Wealth Partners LLC now owns 306,968 shares of the exchange traded fund’s stock worth $132,085,000 after purchasing an additional 107,799 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold rebounded as declining oil prices reduced inflation fears and encouraged renewed buying in precious metals ahead of the Fed meeting. A dovish Fed signal could provide additional support for GLD. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Weak U.S. new-home sales are reinforcing safe-haven demand and raising concerns about economic growth, which may benefit gold and GLD. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: State Street said gold could recover substantially, potentially reaching $5,500 by early next year, while recent declines have pushed the market toward oversold conditions. Downside risks are building in gold, but prices still have a path to $5,000
• Neutral Sentiment: Gold briefly benefited from stronger consumer confidence, which lifted prices toward the session high, but the data could also support higher interest rates and limit future gains. Gold price shoots to session high after Consumer Confidence rises
• Negative Sentiment: Analysts warn that gold must establish a floor near $4,000 or risk a deeper correction after its two-month decline. Persistent inflation and expectations for another Fed rate increase are weighing on the metal. Gold price needs to build a floor here or face a deeper correction
• Negative Sentiment: Short interest in GLD rose 71.8% during October to 15.4 million shares, signaling increased bearish positioning, although the 2.1-day days-to-cover ratio leaves some potential for short-covering if gold continues higher.

SPDR Gold Shares Trading Up 1.2%

GLD opened at $372.28 on Wednesday. The company has a market cap of $138.08 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. The stock has a fifty day simple moving average of $393.17 and a two-hundred day simple moving average of $413.72. SPDR Gold Shares has a 12-month low of $360.12 and a 12-month high of $509.70.

SPDR Gold Shares Company 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.