Independent Financial Group LLC Invests $19.62 Million in SPDR Gold Shares $GLD

Independent Financial Group LLC bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 45,589 shares of the exchange traded fund’s stock, valued at approximately $19,617,000. SPDR Gold Shares makes up approximately 0.6% of Independent Financial Group LLC’s holdings, making the stock its 21st biggest position.

Other large investors have also recently bought and sold shares of the company. Prosperity Consulting Group LLC raised its holdings in shares of SPDR Gold Shares by 1.4% in the first quarter. Prosperity Consulting Group LLC now owns 17,664 shares of the exchange traded fund’s stock worth $7,601,000 after acquiring an additional 238 shares during the last quarter. Frazier Financial Advisors LLC raised its stake in SPDR Gold Shares by 37.8% in the 1st quarter. Frazier Financial Advisors LLC now owns 288 shares of the exchange traded fund’s stock valued at $124,000 after purchasing an additional 79 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in SPDR Gold Shares by 10.1% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 14,056 shares of the exchange traded fund’s stock valued at $6,048,000 after purchasing an additional 1,291 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of SPDR Gold Shares by 1.4% during the 1st quarter. D.A. Davidson & CO. now owns 92,906 shares of the exchange traded fund’s stock worth $39,977,000 after purchasing an additional 1,263 shares during the last quarter. Finally, RFG Bristol Wealth Advisors LLC grew its holdings in shares of SPDR Gold Shares by 34.5% during the first quarter. RFG Bristol Wealth Advisors LLC now owns 740 shares of the exchange traded fund’s stock worth $318,000 after buying an additional 190 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 $364.96 on Friday. The firm has a market cap of $128.17 billion, a PE ratio of -32.43 and a beta of 0.17. The firm has a 50 day simple moving average of $395.05 and a 200-day simple moving average of $425.09. SPDR Gold Shares has a 1-year low of $300.95 and a 1-year high of $509.70.

SPDR Gold Shares News Summary

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

• Negative Sentiment: U.S. retail sales, jobless claims, and regional manufacturing data all came in stronger than expected, supporting the dollar and yields while weighing on gold. Update: Gold Trades Lower, Dollar and Yields Rise as US Retail Sales Growth Eased in June
• Negative Sentiment: Spot gold slipped below key psychological support near $4,000 as traders reacted to firmer yields and a stronger dollar, suggesting more near-term downside for bullion. Gold and silver fall as Fed-rate relief fades after data – Kitco AM Report
• Negative Sentiment: Multiple market reports flagged technical weakness, with gold breaking down from resistance and traders watching for deeper support levels if selling continues. Gold (XAU/USD) Price Forecast: Will Gold Break Below Major Support Levels?
• Negative Sentiment: GLD-specific flow data also looks unfavorable, with reports of roughly $14 billion to $15 billion in investor outflows since March, raising concerns about demand for the ETF itself. SPDR Gold Shares ETF sees $14B outflows since March 1 amid cost concerns

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.