Chesley Taft & Associates LLC Has $34.51 Million Position in SPDR Gold Shares $GLD

Chesley Taft & Associates LLC lessened its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.2% during the second quarter, Holdings Channel.com reports. The fund owned 93,673 shares of the exchange traded fund’s stock after selling 2,154 shares during the period. SPDR Gold Shares comprises 1.3% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 20th largest position. Chesley Taft & Associates LLC’s holdings in SPDR Gold Shares were worth $34,507,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLD. Strategic Investment Solutions Inc. IL lifted its position in shares of SPDR Gold Shares by 5.0% during the 2nd quarter. Strategic Investment Solutions Inc. IL now owns 29,850 shares of the exchange traded fund’s stock valued at $10,996,000 after acquiring an additional 1,424 shares during the period. Teamwork Financial Advisors LLC grew its holdings in shares of SPDR Gold Shares by 9.9% during the 2nd quarter. Teamwork Financial Advisors LLC now owns 1,427 shares of the exchange traded fund’s stock worth $526,000 after purchasing an additional 128 shares in the last quarter. Ebert Capital Management Inc. acquired a new stake in shares of SPDR Gold Shares during the 2nd quarter worth $485,000. Professional Advisory Services Inc. bought a new position in shares of SPDR Gold Shares in the second quarter worth $322,000. Finally, ACT Wealth Management LLC increased its position in shares of SPDR Gold Shares by 16.4% in the second quarter. ACT Wealth Management LLC now owns 38,888 shares of the exchange traded fund’s stock worth $14,326,000 after purchasing an additional 5,466 shares during the period. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold surged toward the $4,350-per-ounce area after the weak jobs report, marking its strongest weekly performance since early in the year and providing the primary catalyst for GLD’s advance. Gold prices surging higher as U.S. economy loses 23k jobs in July
• Positive Sentiment: Investors are increasingly positioning for lower interest rates, with falling yields and a weaker dollar supporting gold and other precious metals. Gold rallies as traders bet on dovish Fed
• Positive Sentiment: Central-bank demand remains a tailwind: the People’s Bank of China made its largest monthly gold purchase since 2023 and has now bought gold for 21 consecutive months. PBOC boosts gold buying with largest monthly purchase since 2023
• Positive Sentiment: Gold-backed ETFs recorded renewed inflows in July after two months of outflows, suggesting investor demand for products such as GLD is improving. Gold market sees positive ETF inflows in July
• Neutral Sentiment: Technical momentum has improved, but analysts identify the $4,382–$4,392 area and higher resistance near $4,494 as important tests; failure to hold the breakout could trigger a pullback. Gold breakout builds toward key resistance
• Negative Sentiment: Gold remains well below its January record, and some investors have taken profits. A new study also questions gold’s effectiveness as a long-term inflation hedge, which could temper demand. If you buy gold to protect against inflation, you’re doing it wrong

SPDR Gold Shares Stock Up 2.3%

GLD stock opened at $398.47 on Friday. The company has a market cap of $140.70 billion, a PE ratio of -32.43 and a beta of 0.17. The business has a 50-day simple moving average of $381.05 and a 200 day simple moving average of $421.14. SPDR Gold Shares has a 52 week low of $305.19 and a 52 week high of $509.70.

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.