SPDR Gold Shares $GLD Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 259,702 shares of the exchange traded fund’s stock after acquiring an additional 21,793 shares during the period. Bank of New York Mellon Corp’s holdings in SPDR Gold Shares were worth $102,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Harfst & Associates Inc. lifted its holdings in shares of SPDR Gold Shares by 17.0% during the fourth quarter. Harfst & Associates Inc. now owns 1,476 shares of the exchange traded fund’s stock worth $585,000 after purchasing an additional 214 shares during the period. Greenwich Wealth Management LLC increased its holdings in SPDR Gold Shares by 1,387.6% in the 4th quarter. Greenwich Wealth Management LLC now owns 56,500 shares of the exchange traded fund’s stock worth $22,391,000 after buying an additional 52,702 shares during the period. Dynasty Wealth Management LLC purchased a new position in SPDR Gold Shares during the 4th quarter worth approximately $108,320,000. Winthrop Capital Management LLC lifted its stake in SPDR Gold Shares by 14.4% during the 4th quarter. Winthrop Capital Management LLC now owns 4,464 shares of the exchange traded fund’s stock valued at $1,769,000 after acquiring an additional 562 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in shares of SPDR Gold Shares in the 4th quarter valued at $4,124,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Some analysts still view the pullback as a buying opportunity, arguing that long-term inflation concerns and strategic demand for gold could support a rebound. Gold breaks below key technical support, but analysts see a buying opportunity
• Neutral Sentiment: There are still longer-term bullish arguments for gold, including deglobalization, central bank buying, and forecasts calling for higher average gold prices later this year. Deglobalization sparks race for strategic resources, driving gold and copper outlook – Sohn Montreal
• Negative Sentiment: Stronger U.S. employment data pushed yields and the dollar higher, fueling a broad selloff in gold and other precious metals. Gold Falls as the Dollar and Yields Rise After an Unexpected Surge in May U.S. Employment
• Negative Sentiment: Gold slipped below major support levels as traders bet the Federal Reserve may remain hawkish for longer, extending the technical downtrend. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 3% As Traders Bet On Hawkish Fed
• Negative Sentiment: Multiple market updates pointed to additional selling pressure after nonfarm payrolls came in much stronger than expected, reinforcing higher-rate expectations. Gold price see solid selling pressure as U.S. economy created 172k jobs in May

SPDR Gold Shares Price Performance

NYSEARCA:GLD opened at $396.24 on Monday. The firm has a market capitalization of $144.11 billion, a P/E ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 1-year low of $299.89 and a 1-year high of $509.70. The company’s fifty day moving average price is $424.74 and its 200-day moving average price is $427.61.

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.