Eurizon Asset Management Hungary Ltd. Invests $37.45 Million in SPDR Gold Shares $GLD

Eurizon Asset Management Hungary Ltd. bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 87,044 shares of the exchange traded fund’s stock, valued at approximately $37,454,000. SPDR Gold Shares comprises 40.2% of Eurizon Asset Management Hungary Ltd.’s holdings, making the stock its 2nd largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Morgan Stanley grew its stake 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 valued at $5,506,229,000 after acquiring an additional 2,539,266 shares in the last quarter. Corient Private Wealth LLC raised its holdings 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 acquiring an additional 3,360,966 shares during the last quarter. Virtu Financial LLC purchased a new position in SPDR Gold Shares in the 4th quarter worth approximately $474,952,000. Marino Management LLC purchased a new position in SPDR Gold Shares in the 4th quarter worth approximately $438,475,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of 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 valued at $371,842,000 after purchasing an additional 109,205 shares in the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
• Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback

SPDR Gold Shares Stock Performance

NYSEARCA:GLD opened at $368.41 on Monday. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70. The stock has a market cap of $129.31 billion, a PE ratio of -32.43 and a beta of 0.17. The stock has a 50 day moving average price of $393.74 and a 200 day moving average price of $424.88.

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.