SPDR Gold Shares (NYSEARCA:GLD) Sees Large Growth in Short Interest

SPDR Gold Shares (NYSEARCA:GLD) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 15,662,128 shares, a growth of 72.1% from the May 31st total of 9,100,030 shares. Based on an average daily trading volume, of 8,486,743 shares, the short-interest ratio is presently 1.8 days. Approximately 4.3% of the shares of the company are short sold.

Hedge Funds Weigh In On SPDR Gold Shares

Several institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of SPDR Gold Shares by 20.4% during the 4th 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 lifted its holdings in SPDR Gold Shares by 77.8% during the fourth quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after purchasing an additional 2,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in SPDR Gold Shares during the first quarter worth about $16,014,000. Schnieders Capital Management LLC. boosted its position in SPDR Gold Shares by 4.8% during the second 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 in the second quarter worth about $337,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 2.1%

Shares of GLD traded up $7.69 on Thursday, reaching $378.29. 6,133,345 shares of the company’s stock traded hands, compared to its average volume of 13,149,306. The stock’s 50 day simple moving average is $406.66 and its two-hundred day simple moving average is $427.37. The stock has a market cap of $133.16 billion, a PE ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 52-week low of $300.95 and a 52-week high of $509.70.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold rallied after June jobs data came in weaker than expected, boosting hopes that the Fed may stay cautious on rate hikes and lifting bullion prices. Gold and silver rally as NFP miss dents Fed-hike bets – Kitco AM Report
• Positive Sentiment: Gold moved above the key $4,100 level as U.S. labor market momentum softened, adding to demand for defensive assets like GLD. Gold price jumps above $4,100 as U.S. economy created 57k jobs in June
• Positive Sentiment: Analysts continue to highlight central-bank buying, constrained mine supply, and official-sector demand as important supports for gold prices. Gold (XAUUSD) & Silver Price Forecast: Gold Holds $4,000 Triple Bottom as Silver Tests $60 Ahead of NFP — Next Leg?
• Neutral Sentiment: Several reports argue gold remains in a volatile consolidation phase, with gains capped by still-elevated interest rates and a firmer Treasury-yield backdrop. Gold Price Analysis – Gold Gains Capped by Persistent High Interest Rates
• Neutral Sentiment: Some commentary warns GLD investors to weigh gold’s safety appeal against fees and the fact that the ETF itself does not generate income or dividends. GLD’s 0.40% Fee Quietly Costs You $40 Per Year on Every $10,000 While Cheaper Rivals Charge Half
• Negative Sentiment: Some analysts still describe gold’s recent trend as bearish or in consolidation, noting that resistance and higher rates could limit upside in the near term. Gold (XAU/USD) Price Forecast: Downtrend Holds Amid Resistance Test

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.