KFA Private Wealth Group LLC Cuts Stake in SPDR Gold Shares $GLD

KFA Private Wealth Group LLC cut its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 65.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,199 shares of the exchange traded fund’s stock after selling 2,319 shares during the quarter. KFA Private Wealth Group LLC’s holdings in SPDR Gold Shares were worth $442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position 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 worth $2,723,000 after acquiring an additional 1,903 shares during the period. Bison Wealth LLC raised its stake in shares of SPDR Gold Shares by 77.8% in the fourth 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in SPDR Gold Shares in the first quarter valued at $16,014,000. Schnieders Capital Management LLC. boosted its holdings in SPDR Gold Shares by 4.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock valued at $1,829,000 after purchasing an additional 275 shares during the period. Finally, Prudential Financial Inc. acquired a new position in SPDR Gold Shares during the 2nd quarter worth $337,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

GLD opened at $396.75 on Wednesday. The business has a fifty day moving average price of $386.75 and a 200 day moving average price of $415.38. SPDR Gold Shares has a 12 month low of $320.24 and a 12 month high of $509.70. The stock has a market capitalization of $140.09 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Investors continue to use gold ETFs as portfolio hedges alongside U.S. large-cap equities, while strong August ETF flows indicate ongoing demand for physical gold exposure. Investors Are Balancing S&P 500 Growth With Gold Hedges
• Positive Sentiment: Goldman Sachs maintained a $4,900 price target, citing continued central-bank purchases, while analysts said commodity-led inflation, expanding money supply and fiscal concerns could support gold over the longer term. Gold Drops 5.5% From 3-Month High but Goldman Sachs Still Sees 10% Upside
• Neutral Sentiment: GLD’s outlook is at a technical crossroads: gold breached several short-term moving averages and is testing support around $4,311–$4,350. A hold could support a rebound, while a break may expose a pullback toward approximately $4,215. Gold Price Tests Critical $4,311 Support After Sharp Drop
• Negative Sentiment: Markets raised the probability of a September Federal Reserve rate hike to roughly 66%–70% after hawkish policy signals. Higher expected rates and rising global bond yields increased the opportunity cost of holding non-yielding gold. Gold tests $4,311 support as Fed-hike odds hold near 66%
• Negative Sentiment: A surge in crude oil prices linked to renewed U.S.-Iran tensions fueled inflation concerns, pushed yields higher and strengthened the dollar. Although geopolitical risk normally benefits gold, the rate and currency effects currently outweigh safe-haven demand. Gold price hits two-week low as Warsh repricing and oil shock lift yields

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.