Evercore Wealth Management LLC Cuts Stake in SPDR Gold Shares $GLD

Evercore Wealth Management LLC cut its stake in SPDR Gold Shares (NYSEARCA:GLD) by 2.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,330 shares of the exchange traded fund’s stock after selling 1,504 shares during the period. Evercore Wealth Management LLC’s holdings in SPDR Gold Shares were worth $31,123,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Corient Private Wealth LLC raised its stake in SPDR Gold Shares by 571.3% during the fourth quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock worth $1,565,118,000 after purchasing an additional 3,360,966 shares during the period. Morgan Stanley grew its stake in shares of 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 buying an additional 2,539,266 shares during the period. Virtu Financial LLC purchased a new stake in shares of SPDR Gold Shares during the 4th quarter valued at $474,952,000. Marino Management LLC acquired a new stake in shares of SPDR Gold Shares during the 4th quarter worth $438,475,000. Finally, Diamant Asset Management Inc. increased its holdings in shares of SPDR Gold Shares by 42,929.0% during the 1st quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock worth $299,942,000 after buying an additional 695,450 shares during the last quarter. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

Key SPDR Gold Shares News

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

• Positive Sentiment: Lower crude-oil prices following a pause in U.S.-Iran hostilities reduced near-term inflation pressure, while softer Treasury yields and a weaker U.S. dollar supported gold and GLD. Gold continues to hold $4,000 as U.S.-Iran pause pressures crude oil
• Positive Sentiment: Longer-term demand remains constructive: State Street said gold’s next major $1,000 move could be higher if Federal Reserve hawkishness has peaked, while central-bank purchases and ETF inflows continue to provide support. Gold’s next $1,000 move is likely higher as Fed hawkishness peaks
• Positive Sentiment: Asian demand, particularly from China, is viewed as an important source of support; BMO Capital Markets believes China’s gold holdings could surpass U.S. holdings within five years. China’s gold stockpile could surpass U.S. holdings
• Neutral Sentiment: Investors are awaiting the Federal Reserve decision and upcoming inflation data. Gold may consolidate around $4,000 until policymakers provide clearer guidance on interest rates. Gold and Silver Price Forecast: Fed Decision Could Trigger Next Breakout
• Negative Sentiment: Persistent expectations for restrictive Fed policy, coupled with weak Western demand, have limited gold’s upside. Gains also faded below $4,100, showing that a consistent safe-haven bid has not yet emerged. Gold remains stuck below $4,100

SPDR Gold Shares Trading Up 0.7%

Shares of GLD opened at $374.63 on Tuesday. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70. The firm has a market capitalization of $132.28 billion, a P/E ratio of -32.43 and a beta of 0.17. The stock’s fifty day simple moving average is $387.31 and its 200 day simple moving average is $423.66.

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.