Sanctuary Advisors LLC Decreases Holdings in SPDR Gold Shares $GLD

Sanctuary Advisors LLC lowered its position in SPDR Gold Shares (NYSEARCA:GLD) by 3.5% during the first quarter, HoldingsChannel.com reports. The fund owned 216,349 shares of the exchange traded fund’s stock after selling 7,823 shares during the quarter. Sanctuary Advisors LLC’s holdings in SPDR Gold Shares were worth $93,093,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC acquired a new stake in SPDR Gold Shares in the fourth quarter valued at $25,000. Timmons Wealth Management LLC acquired a new position in shares of SPDR Gold Shares during the 4th quarter worth $26,000. Eukles Asset Management purchased a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $27,000. Private Wealth Management Group LLC acquired a new stake in SPDR Gold Shares during the 1st quarter valued at $30,000. Finally, Vestwell Advisors LLC acquired a new stake in SPDR Gold Shares during the 3rd quarter valued at $27,000. 42.19% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting SPDR Gold Shares

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 Stock Performance

SPDR Gold Shares stock opened at $372.15 on Wednesday. SPDR Gold Shares has a fifty-two week low of $300.95 and a fifty-two week high of $509.70. The company has a market capitalization of $130.70 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The stock has a fifty day moving average of $397.55 and a two-hundred day moving average of $425.73.

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.