SteelPeak Wealth LLC Sells 4,344 Shares of SPDR Gold Shares $GLD

SteelPeak Wealth LLC trimmed its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 39.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,638 shares of the exchange traded fund’s stock after selling 4,344 shares during the quarter. SteelPeak Wealth LLC’s holdings in SPDR Gold Shares were worth $2,856,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLD. One Day In July LLC boosted its stake in shares of SPDR Gold Shares by 27.6% during the first quarter. One Day In July LLC now owns 2,697 shares of the exchange traded fund’s stock valued at $1,160,000 after purchasing an additional 584 shares in the last quarter. Independent Financial Group LLC acquired a new position in shares of SPDR Gold Shares in the first quarter valued at approximately $19,617,000. Prosperity Consulting Group LLC increased its stake in shares of SPDR Gold Shares by 1.4% in the first quarter. Prosperity Consulting Group LLC now owns 17,664 shares of the exchange traded fund’s stock valued at $7,601,000 after buying an additional 238 shares during the period. Frazier Financial Advisors LLC raised its holdings in SPDR Gold Shares by 37.8% in the 1st quarter. Frazier Financial Advisors LLC now owns 288 shares of the exchange traded fund’s stock valued at $124,000 after buying an additional 79 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in SPDR Gold Shares by 10.1% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 14,056 shares of the exchange traded fund’s stock valued at $6,048,000 after buying an additional 1,291 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
• Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback

SPDR Gold Shares Stock Up 0.9%

Shares of SPDR Gold Shares stock opened at $368.41 on Friday. The stock has a market cap of $129.31 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70. The company’s fifty day moving average is $393.74 and its 200 day moving average is $424.69.

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.