SPDR Gold Shares $GLD Shares Acquired by 1ST Source Bank

1ST Source Bank lifted its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,180 shares of the exchange traded fund’s stock after purchasing an additional 1,929 shares during the period. 1ST Source Bank’s holdings in SPDR Gold Shares were worth $7,392,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. WPG Advisers LLC bought a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new stake in shares of SPDR Gold Shares in the 2nd quarter worth approximately $26,000. Timmons Wealth Management LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter worth approximately $26,000. Vestwell Advisors LLC acquired a new position in SPDR Gold Shares during the 3rd quarter valued at approximately $27,000. Finally, Eukles Asset Management acquired a new position in SPDR Gold Shares during the 4th quarter valued at approximately $27,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold rallied after the June CPI report came in weaker than expected, easing pressure on the Federal Reserve and supporting bullion prices. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
• Positive Sentiment: Gold climbed off an eight-month low as the dollar and yields weakened, improving the outlook for gold-backed ETFs like GLD. Gold Rises Off an Eight-Month Low, Dollar Falls after US Consumer Prices Eased in June
• Positive Sentiment: Gold prices jumped toward the $4,100 level after the inflation report, with traders seeing room for the Fed to keep rates unchanged, a constructive setup for bullion. Gold prices surging higher to test resistance at $4,100 following sharp drop in U.S. inflation
• Neutral Sentiment: Some analysts say gold’s rebound may be just noise unless buyers can break key resistance levels, suggesting the move could remain choppy. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
• Negative Sentiment: Gold remains below key technical resistance in some forecasts, and broader bearish trends in yields and risk sentiment have kept pressure on the metal recently. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone
• Negative Sentiment: Gold had also been pressured earlier by rising global bond yields and concerns that a more hawkish Fed could keep rates elevated, which can weigh on GLD. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns

SPDR Gold Shares Price Performance

Shares of GLD opened at $372.15 on Wednesday. The company has a market cap of $130.70 billion, a P/E ratio of -32.43 and a beta of 0.17. The stock has a fifty day moving average price of $397.55 and a 200 day moving average price of $425.73. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month high of $509.70.

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.