Choreo LLC Lowers Stock Position in SPDR Gold Shares $GLD

Choreo LLC cut its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 5.9% in the second quarter, HoldingsChannel reports. The fund owned 21,997 shares of the exchange traded fund’s stock after selling 1,381 shares during the period. Choreo LLC’s holdings in SPDR Gold Shares were worth $8,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLD. WPG Advisers LLC purchased a new position in SPDR Gold Shares during the fourth quarter valued at approximately $25,000. Timmons Wealth Management LLC purchased a new stake in shares of SPDR Gold Shares in the fourth quarter worth $26,000. Chapman Financial Group LLC purchased a new stake in shares of SPDR Gold Shares in the second quarter worth $26,000. Eukles Asset Management purchased a new stake in shares of SPDR Gold Shares in the fourth quarter worth $27,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of SPDR Gold Shares during the 1st quarter valued at $30,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $415.26 on Friday. SPDR Gold Shares has a one year low of $306.43 and a one year high of $509.70. The company’s fifty day moving average price is $382.14 and its 200-day moving average price is $417.45. The company has a market capitalization of $146.63 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: The U.S. Treasury unexpectedly doubled its purchases of long-dated Treasury bonds, pushing yields and the dollar lower. Because gold does not pay interest, falling yields generally improve its relative appeal and helped drive the sharp rally in gold measured by GLD. Gold Jumps 3% as Bessent’s Treasury Steps Into Bond Rout
• Positive Sentiment: Analysts continue to present a bullish long-term outlook. Goldman Sachs reportedly targets $5,400 gold by year-end, while Electrum Chairman Thomas Kaplan forecasts substantially higher prices over time, citing monetary risks and potential government intervention in profitable mines. Goldman Targets $5,400 Gold by Year-End Gold Price Forecast from Thomas Kaplan
• Positive Sentiment: Unusually heavy call-option activity indicates increased bullish positioning around GLD. Traders bought nearly 535,000 call options, approximately 76% above typical volume, although options activity is a sentiment indicator rather than a fundamental change. Traders Purchase High Volume of Call Options on SPDR Gold Shares
• Neutral Sentiment: Gold pulled back from recent highs as traders took profits following the powerful rally. This created near-term resistance for GLD even as technical momentum remains constructive. Gold, Silver and Platinum Forecasts
• Negative Sentiment: Stronger-than-expected U.S. jobless claims and Philadelphia Fed manufacturing data reduced expectations for near-term rate relief. Recovering Treasury yields and Federal Reserve minutes indicating support for another rate increase could pressure gold and GLD if sustained. Gold Tests $4,450 as Economic Data Raises Rate Risk

SPDR Gold Shares Company 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.