Cidel Asset Management Inc. Has $1.45 Million Position in SPDR Gold Shares $GLD

Cidel Asset Management Inc. boosted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 69.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,368 shares of the exchange traded fund’s stock after purchasing an additional 1,384 shares during the quarter. Cidel Asset Management Inc.’s holdings in SPDR Gold Shares were worth $1,449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guyasuta Investment Advisors Inc. raised its holdings in shares of SPDR Gold Shares by 24.9% during the first quarter. Guyasuta Investment Advisors Inc. now owns 1,756 shares of the exchange traded fund’s stock valued at $756,000 after purchasing an additional 350 shares during the period. Presilium Private Wealth LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter worth about $204,000. Vermillion Wealth Management Inc. grew its stake in shares of SPDR Gold Shares by 4.4% in the 1st quarter. Vermillion Wealth Management Inc. now owns 850 shares of the exchange traded fund’s stock valued at $366,000 after buying an additional 36 shares during the period. Certified Advisory Corp increased its position in SPDR Gold Shares by 0.9% in the 1st quarter. Certified Advisory Corp now owns 13,194 shares of the exchange traded fund’s stock valued at $5,677,000 after buying an additional 115 shares in the last quarter. Finally, Signal Advisors Wealth LLC increased its position in SPDR Gold Shares by 5.6% in the 1st quarter. Signal Advisors Wealth LLC now owns 12,617 shares of the exchange traded fund’s stock valued at $5,429,000 after buying an additional 673 shares in the last quarter. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold is being viewed by some portfolio managers as an attractive buying opportunity after its recent pullback, with de-dollarization trends still seen as supportive over the longer term. Gold’s pullback creates attractive entry as de-dollarization turns structural – KMLM’s Prior
• Positive Sentiment: China’s gold imports jumped to a 26-month high in May, suggesting physical demand remains strong even after the recent price decline. China gold imports hit 26-month high in May, up 76% YTD
• Neutral Sentiment: Gold briefly bounced from session lows after better-than-expected U.S. PMI data, showing that the metal is still reacting quickly to macroeconomic releases. Spot gold rises from session lows as flash S&P composite PMI improves to 52.2
• Negative Sentiment: Gold has been falling for multiple sessions as the dollar strengthens and rate-hike fears rise, pressuring GLD lower. Gold and silver tumble as rate-hike fears hit precious metals
• Negative Sentiment: Deutsche Bank and BMO both trimmed gold forecasts, citing weaker investor demand and the Fed’s hawkish shift, which could keep GLD under pressure near term. BMO cuts gold price forecast as Fed’s hawkish shift weighs on precious metals Deutsche Bank cuts 2026 gold price targets to $4,300/oz for Q3, $4,800/oz in Q4 as investor demand drops

SPDR Gold Shares Stock Performance

GLD stock opened at $377.32 on Wednesday. The stock’s 50 day simple moving average is $415.31 and its 200 day simple moving average is $428.16. The company has a market cap of $137.23 billion, a P/E ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a fifty-two week low of $299.89 and a fifty-two week high of $509.70.

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.