Grove Bank & Trust Boosts Stock Holdings in SPDR Gold Shares $GLD

Grove Bank & Trust raised its stake in SPDR Gold Shares (NYSEARCA:GLD) by 9.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,171 shares of the exchange traded fund’s stock after acquiring an additional 2,241 shares during the period. SPDR Gold Shares makes up 1.0% of Grove Bank & Trust’s portfolio, making the stock its 29th largest holding. Grove Bank & Trust’s holdings in SPDR Gold Shares were worth $9,641,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CoreCap Advisors LLC grew its holdings in SPDR Gold Shares by 52.8% during the 2nd quarter. CoreCap Advisors LLC now owns 60,242 shares of the exchange traded fund’s stock valued at $22,192,000 after buying an additional 20,814 shares in the last quarter. Trilogy Capital Inc. increased its stake in SPDR Gold Shares by 11.5% in the 2nd quarter. Trilogy Capital Inc. now owns 103,753 shares of the exchange traded fund’s stock worth $38,221,000 after acquiring an additional 10,718 shares during the last quarter. Noble Wealth Management PBC raised its holdings in shares of SPDR Gold Shares by 1.9% during the 2nd quarter. Noble Wealth Management PBC now owns 14,044 shares of the exchange traded fund’s stock worth $5,174,000 after acquiring an additional 258 shares in the last quarter. Eastern Bank raised its holdings in shares of SPDR Gold Shares by 27.6% during the 2nd quarter. Eastern Bank now owns 6,810 shares of the exchange traded fund’s stock worth $2,509,000 after acquiring an additional 1,472 shares in the last quarter. Finally, Roxbury Financial LLC boosted its position in shares of SPDR Gold Shares by 13.1% during the 2nd quarter. Roxbury Financial LLC now owns 432 shares of the exchange traded fund’s stock valued at $159,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

NYSEARCA GLD opened at $374.16 on Wednesday. The stock has a 50 day moving average price of $382.26 and a 200-day moving average price of $421.76. SPDR Gold Shares has a one year low of $305.19 and a one year high of $509.70. The company has a market capitalization of $132.12 billion, a P/E ratio of -32.43 and a beta of 0.17.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Cooling labor data supports gold: June JOLTS job openings fell more than expected to 7.36 million, reinforcing expectations that weaker employment could eventually give the Federal Reserve room to ease policy. Gold also remains supported ahead of Friday’s nonfarm payrolls report. Gold price catching a bid as JOLTS job openings drop to 7.36 million
• Positive Sentiment: Structural demand remains strong: The Bank of Korea began a long-term domestic gold-buying program, adding to record central-bank demand. Central banks purchased about 289 metric tonnes in the second quarter, while Tether added roughly 14 tonnes and increased its physical gold holdings above 146 tonnes. These purchases provide a longer-term support base for GLD. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Technical momentum is improving: Gold is holding above its 20-day moving average, with resistance near $4,166 and $4,203. A break above those levels could attract additional buying and improve sentiment toward GLD. Gold XAU/USD Price Forecast: Can Gold Break Above $4,203?
• Neutral Sentiment: Investors remain focused on competing macro signals: Safe-haven demand related to Middle East tensions and shifting Fed expectations is supporting gold, but improving U.S. activity data and uncertainty ahead of payrolls are keeping the metal in a broad range near the $4,000 area. Gold Rises; Focus on U.S. Labor Data
• Negative Sentiment: Yields and fund flows remain headwinds: Higher real and long-term Treasury yields increase the opportunity cost of holding non-yielding gold. GLD also saw reported outflows of nearly $113 million, indicating that some investors are favoring income-producing assets. Tether Strikes Gold: Crypto’s Physical Pivot

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.