SPDR Gold Shares $GLD Shares Sold by Seamount Financial Group Inc.

Seamount Financial Group Inc. lowered its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 28.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,001 shares of the exchange traded fund’s stock after selling 2,783 shares during the period. SPDR Gold Shares makes up 1.4% of Seamount Financial Group Inc.’s holdings, making the stock its 24th largest position. Seamount Financial Group Inc.’s holdings in SPDR Gold Shares were worth $3,012,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GLD. Heritage Investors Management Corp lifted its holdings in SPDR Gold Shares by 3.4% in the first quarter. Heritage Investors Management Corp now owns 2,918 shares of the exchange traded fund’s stock worth $1,256,000 after purchasing an additional 95 shares during the period. Kropog Financial Group LLC acquired a new position in SPDR Gold Shares during the 1st quarter valued at about $206,000. Smithbridge Asset Management Inc. DE acquired a new position in SPDR Gold Shares during the 1st quarter valued at about $1,592,000. Stock Yards Bank & Trust Co. lifted its stake in shares of SPDR Gold Shares by 3.2% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 35,211 shares of the exchange traded fund’s stock worth $15,151,000 after acquiring an additional 1,077 shares during the period. Finally, Horizon Wealth Management LLC boosted its holdings in shares of SPDR Gold Shares by 45.4% in the first quarter. Horizon Wealth Management LLC now owns 64,634 shares of the exchange traded fund’s stock valued at $27,811,000 after acquiring an additional 20,186 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $378.13 on Friday. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month high of $509.70. The firm has a market capitalization of $133.10 billion, a PE ratio of -32.43 and a beta of 0.17. The company’s 50 day simple moving average is $405.63 and its 200 day simple moving average is $427.25.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold jumped after the June payroll report came in below expectations, pressuring the U.S. dollar and boosting rate-cut hopes — a direct tailwind for SPDR Gold Shares (GLD). Gold bulls charge back on Wall Street and Main Street after weak jobs report dispels rate hike fears and drives gold above $4,100/oz
• Positive Sentiment: Multiple reports said gold rallied above $4,100/oz as weak U.S. payrolls and slower hiring strengthened the case for easier Fed policy, which supports GLD by lifting bullion prices. Update: Gold Rises as Weak US Payrolls Pressure the Dollar, Support Rate Outlook
• Positive Sentiment: Commentary that central banks are still betting on gold and even shifting away from Treasuries reinforces long-term demand for the metal, a supportive backdrop for GLD. Central banks are still betting on gold
• Neutral Sentiment: Analysts noted gold may be near fair value and still in a broader secular bull case, suggesting upside potential remains but without a clear near-term catalyst by itself. Gold is near fair value, setting the stage for the next leg higher – WisdomTree’s Shah
• Negative Sentiment: Some market commentary warned that gold is still facing resistance and a broader downtrend may not be fully broken, which could limit additional gains in GLD if the rally stalls. Gold (XAU/USD) Price Forecast: Resistance Cluster Caps Upside Momentum
• Negative Sentiment: Earlier reports highlighted that gold had been under pressure from high interest rates and a recent correction, reminding investors that GLD remains sensitive to renewed Fed-hike fears and dollar strength. Gold prices fall further after worst quarter in 13 years as interest rate fears hit bullion

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.