Peapack Gladstone Financial Corp Decreases Stock Holdings in SPDR Gold Shares $GLD

Peapack Gladstone Financial Corp reduced its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 3.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 34,517 shares of the exchange traded fund’s stock after selling 1,234 shares during the period. Peapack Gladstone Financial Corp’s holdings in SPDR Gold Shares were worth $13,679,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GLD. Calder Financial LLC acquired a new stake in SPDR Gold Shares in the fourth quarter valued at $807,000. Empirical Asset Management LLC raised its holdings in SPDR Gold Shares by 256.7% in the third quarter. Empirical Asset Management LLC now owns 36,404 shares of the exchange traded fund’s stock valued at $12,941,000 after acquiring an additional 26,197 shares in the last quarter. Colonial Trust Advisors raised its holdings in SPDR Gold Shares by 7.6% in the third quarter. Colonial Trust Advisors now owns 19,720 shares of the exchange traded fund’s stock valued at $7,010,000 after acquiring an additional 1,385 shares in the last quarter. Ervin Investment Management LLC acquired a new stake in SPDR Gold Shares in the fourth quarter valued at $7,178,000. Finally, MB Generational Wealth LLC acquired a new stake in SPDR Gold Shares in the third quarter valued at $407,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about SPDR Gold Shares

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

• Negative Sentiment: Gold fell from a two-week high as the dollar strengthened and oil prices jumped amid fresh U.S.-Iran strikes, creating a headwind for the metal and for SPDR Gold Shares (GLD). Update: Gold Falls Off a Two-Week High as Oil Rises as the U.S. and Iran Trade Strikes
• Negative Sentiment: Spot gold was lower as crude oil climbed, Treasury yields firmed, and U.S.-Iran negotiations remained unresolved, reinforcing a risk-off but dollar-supportive backdrop that can pressure GLD. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Negative Sentiment: Better-than-expected U.S. manufacturing data pushed gold lower by supporting Treasury yields and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Several market commentary pieces also pointed to a stronger dollar, higher oil, and easing rate-cut bets as reasons gold retreated, which is weighing on GLD sentiment. Gold News: Rising Oil Prices Darken Gold Price Future Before Payrolls

SPDR Gold Shares Price Performance

GLD opened at $411.26 on Tuesday. The stock has a market capitalization of $149.58 billion, a PE ratio of -32.43 and a beta of 0.15. The firm’s fifty day moving average price is $424.95 and its 200 day moving average price is $426.83. SPDR Gold Shares has a 12-month low of $299.89 and a 12-month 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.