Cumberland Partners Ltd Trims Stock Position in SPDR Gold Shares $GLD

Cumberland Partners Ltd lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 11.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,405 shares of the exchange traded fund’s stock after selling 2,203 shares during the period. Cumberland Partners Ltd’s holdings in SPDR Gold Shares were worth $7,059,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its position in SPDR Gold Shares by 22.4% during the fourth quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock valued at $5,506,229,000 after buying an additional 2,539,266 shares during the period. Corient Private Wealth LLC raised its position in SPDR Gold Shares by 571.3% in the fourth quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock worth $1,565,118,000 after acquiring an additional 3,360,966 shares during the period. Virtu Financial LLC bought a new position in SPDR Gold Shares in the fourth quarter worth approximately $474,952,000. Marino Management LLC purchased a new position in shares of SPDR Gold Shares during the 4th quarter worth $438,475,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of SPDR Gold Shares by 13.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 938,260 shares of the exchange traded fund’s stock worth $371,842,000 after acquiring an additional 109,205 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold is holding above the important $4,000 level, suggesting buyers are still stepping in on dips and that the market may be forming a base. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports hit a two-year high, signaling strong physical demand from the world’s largest bullion market. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Lower Treasury yields and a pullback in oil prices have helped gold rebound intraday, reinforcing its role as a defensive asset. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: ETF flow data show investors rotating toward commodities and other defensive exposures, which can support demand for gold-backed funds like GLD. The Defensive Shift: This Week’s Top 10 ETF Inflows

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $371.90 on Friday. SPDR Gold Shares has a 1 year low of $300.95 and a 1 year high of $509.70. The firm has a fifty day moving average price of $388.19 and a 200-day moving average price of $423.83. The company has a market cap of $131.06 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

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.