Norris Financial Group LLC Acquires New Stake in SPDR Gold Shares $GLD

Norris Financial Group LLC purchased a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 15,029 shares of the exchange traded fund’s stock, valued at approximately $6,467,000. SPDR Gold Shares accounts for about 2.1% of Norris Financial Group LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of SPDR Gold Shares by 20.4% during the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock valued at $2,723,000 after buying an additional 1,903 shares during the period. Bison Wealth LLC raised its holdings in SPDR Gold Shares by 77.8% in the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after acquiring an additional 2,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in SPDR Gold Shares in the 1st quarter valued at $16,014,000. Schnieders Capital Management LLC. lifted its stake in shares of SPDR Gold Shares by 4.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after purchasing an additional 275 shares during the period. Finally, Prudential Financial Inc. purchased a new position in shares of SPDR Gold Shares during the 2nd quarter worth $337,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Up 1.6%

GLD stock opened at $377.16 on Friday. The stock has a market capitalization of $133.36 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 52-week low of $302.86 and a 52-week high of $509.70. The stock’s fifty day simple moving average is $384.75 and its 200-day simple moving average is $422.83.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: June PCE inflation came in softer and the dollar weakened, helping gold rebound after the Federal Reserve held interest rates while maintaining a hawkish stance. Because GLD tracks gold bullion, lower inflation and potential future rate relief support its investment appeal. Gold holds above $4,100 as softer PCE offsets hawkish Fed
• Positive Sentiment: Analysts said the Fed’s decision to keep rates unchanged provided relief for gold, while central-bank purchases and strong Asian buying indicated that underlying demand remains resilient despite the second-quarter selloff. Gold demand proves resilient despite Q2 selloff
• Positive Sentiment: Retail bullion demand is showing signs of recovery, with the Royal Mint reporting stronger purchases of digital gold and silver after the recent correction. Retail investors buy the dip
• Neutral Sentiment: Gold remains in a consolidation range after finding support near $4,000. A sustained move above roughly $4,203 could signal a broader bullish reversal, but failure to break that resistance would keep GLD range-bound. Gold price forecast and resistance analysis
• Negative Sentiment: The Fed’s hawkish messaging, firm Treasury yields and resilient weekly jobless-claims data continue to reduce expectations for near-term rate cuts, creating headwinds for non-yielding gold. Gold steadies as GDP and PCE keep rate risk alive
• Negative Sentiment: Consumers continue selling unwanted gold jewelry while prices remain elevated, adding potential supply and limiting upside momentum. Investors continue selling unwanted gold jewelry

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.