Checchi Capital Advisers LLC Sells 12,620 Shares of SPDR Gold Shares $GLD

Checchi Capital Advisers LLC decreased its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 24.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,872 shares of the exchange traded fund’s stock after selling 12,620 shares during the period. SPDR Gold Shares comprises 0.8% of Checchi Capital Advisers LLC’s portfolio, making the stock its 22nd biggest position. Checchi Capital Advisers LLC’s holdings in SPDR Gold Shares were worth $16,726,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Morgan Stanley grew its position in SPDR Gold Shares by 22.4% during the 4th 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. Corient Private Wealth LLC raised its position in SPDR Gold Shares by 571.3% in the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock valued at $1,565,118,000 after purchasing an additional 3,360,966 shares during the last quarter. Virtu Financial LLC bought a new position in SPDR Gold Shares in the 4th quarter valued at $474,952,000. Marino Management LLC bought a new position in SPDR Gold Shares in the 4th quarter valued at $438,475,000. Finally, Rockefeller Capital Management L.P. boosted its stake in SPDR Gold Shares by 13.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 938,260 shares of the exchange traded fund’s stock worth $371,842,000 after purchasing an additional 109,205 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold rallied after the June CPI report came in weaker than expected, easing pressure on the Federal Reserve and supporting bullion prices. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
• Positive Sentiment: Gold climbed off an eight-month low as the dollar and yields weakened, improving the outlook for gold-backed ETFs like GLD. Gold Rises Off an Eight-Month Low, Dollar Falls after US Consumer Prices Eased in June
• Positive Sentiment: Gold prices jumped toward the $4,100 level after the inflation report, with traders seeing room for the Fed to keep rates unchanged, a constructive setup for bullion. Gold prices surging higher to test resistance at $4,100 following sharp drop in U.S. inflation
• Neutral Sentiment: Some analysts say gold’s rebound may be just noise unless buyers can break key resistance levels, suggesting the move could remain choppy. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
• Negative Sentiment: Gold remains below key technical resistance in some forecasts, and broader bearish trends in yields and risk sentiment have kept pressure on the metal recently. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone
• Negative Sentiment: Gold had also been pressured earlier by rising global bond yields and concerns that a more hawkish Fed could keep rates elevated, which can weigh on GLD. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $372.15 on Wednesday. The stock’s fifty day moving average is $397.55 and its 200-day moving average is $425.73. The stock has a market capitalization of $130.70 billion, a PE ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 52 week low of $300.95 and a 52 week 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.