CrossGen Wealth LLC acquired a new position in SPDR Gold Shares (NYSEARCA:GLD – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,208 shares of the exchange traded fund’s stock, valued at approximately $1,668,000. SPDR Gold Shares accounts for approximately 1.5% of CrossGen Wealth LLC’s investment portfolio, making the stock its 25th biggest position.
Several other institutional investors have also recently added to or reduced their stakes in GLD. Morgan Stanley lifted its holdings in SPDR Gold Shares by 22.4% in the fourth quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after acquiring an additional 2,539,266 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of SPDR Gold Shares by 2.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,531,196 shares of the exchange traded fund’s stock worth $899,764,000 after purchasing an additional 66,416 shares during the last quarter. Bank of Montreal Can acquired a new position in SPDR Gold Shares during the 3rd quarter valued at approximately $556,282,000. Ameriprise Financial Inc. boosted its position in SPDR Gold Shares by 3.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,555,831 shares of the exchange traded fund’s stock valued at $554,139,000 after purchasing an additional 50,756 shares during the period. Finally, Barclays PLC grew its stake in SPDR Gold Shares by 1.4% during the 3rd quarter. Barclays PLC now owns 1,125,376 shares of the exchange traded fund’s stock worth $400,037,000 after buying an additional 15,932 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.
SPDR Gold Shares Price Performance
Shares of NYSEARCA GLD opened at $387.12 on Friday. The firm has a market capitalization of $140.80 billion, a PE 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 business’s fifty day moving average price is $418.52 and its two-hundred day moving average price is $428.27.
Key Stories Impacting SPDR Gold Shares
- Negative Sentiment: Gold prices are retreating as the dollar tests yearly highs and traders reprice the Fed’s “higher-for-longer” message after the policy meeting. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
- Negative Sentiment: Gold is also being pressured by stronger U.S. data, including a rebound in the Philly Fed survey and solid labor-market readings, which reduce expectations for near-term easing. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June
- Neutral Sentiment: Some analysts say gold ETFs still deserve a place in long-term portfolios because of central-bank buying and diversification benefits, which may help limit downside over time. Why Gold ETFs Still Deserve a Place in Long-Term Portfolios
- Neutral Sentiment: Broader geopolitical uncertainty and central-bank reserve accumulation continue to provide a long-term backdrop of support, even as short-term pricing weakens. Central banks are bringing gold reserves home as geopolitical risks rise
- Negative Sentiment: Technical analysts warn that gold has broken lower from recent resistance and may be heading toward key support zones, suggesting more near-term downside for GLD if the selling continues. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?
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.
Further Reading
- Five stocks we like better than SPDR Gold Shares
- Credo Technologies Accelerates AI—Its Stock Price Will Follow
- Qualcomm Goes All-In: The $10B Bet to Crush NVIDIA
- Jabil Just Gave Investors a Stronger Reason to Buy the Dip
- CarMax In Reverse? Why You Should Buy Now Before the Big Catalysts Emerge
Receive News & Ratings for SPDR Gold Shares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR Gold Shares and related companies with MarketBeat.com's FREE daily email newsletter.
