Pinnacle Associates Ltd. Reduces Position in SPDR Gold Shares $GLD

Pinnacle Associates Ltd. decreased its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 11.5% in the second quarter, Holdings Channel reports. The fund owned 14,667 shares of the exchange traded fund’s stock after selling 1,912 shares during the period. Pinnacle Associates Ltd.’s holdings in SPDR Gold Shares were worth $5,403,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GLD. Summit Wealth Partners LLC lifted its stake in SPDR Gold Shares by 5.7% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,725 shares of the exchange traded fund’s stock worth $3,951,000 after purchasing an additional 577 shares in the last quarter. PCG Wealth Advisors LLC grew its position in shares of SPDR Gold Shares by 2.2% in the second quarter. PCG Wealth Advisors LLC now owns 24,802 shares of the exchange traded fund’s stock valued at $9,136,000 after purchasing an additional 545 shares in the last quarter. Excalibur Management Corp grew its position in shares of SPDR Gold Shares by 1.2% in the second quarter. Excalibur Management Corp now owns 6,665 shares of the exchange traded fund’s stock valued at $2,455,000 after purchasing an additional 80 shares in the last quarter. Mill Capital Management LLC purchased a new stake in shares of SPDR Gold Shares in the second quarter valued at approximately $258,000. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of SPDR Gold Shares by 1.7% in the second quarter. Oppenheimer & Co. Inc. now owns 105,618 shares of the exchange traded fund’s stock valued at $38,908,000 after purchasing an additional 1,799 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $413.84 on Thursday. SPDR Gold Shares has a one year low of $306.43 and a one year high of $509.70. The company has a market cap of $146.13 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The business’s 50 day moving average price is $381.56 and its 200 day moving average price is $417.65.

Key SPDR Gold Shares News

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

• Positive Sentiment: The U.S. Treasury unexpectedly doubled planned buybacks of long-dated debt, helping drive 30-year Treasury yields and the dollar lower. Lower yields reduce the opportunity cost of holding non-income-producing gold and provided the main catalyst for GLD’s advance. Gold Jumps 3% as Bessent’s Treasury Steps Into Bond Rout
• Positive Sentiment: Gold broke above important technical resistance and moved toward its 200-day moving average, strengthening bullish momentum and raising the possibility of additional gains if the breakout holds. Gold Price Forecast: Breakout Puts 200-Day Moving Average in Focus
• Positive Sentiment: GLD recorded approximately $1 billion in inflows for August 17, indicating strong investor demand for gold exposure and potentially reinforcing the ETF’s upward momentum. Daily ETF Flows: GLD Takes In $1B
• Positive Sentiment: Wells Fargo maintained a constructive outlook for precious metals and projected gold could reach $4,900 in 2026, citing ongoing demand from Asian investors and central banks. Wells Fargo Reiterates Positive Outlook for Precious Metals
• Neutral Sentiment: Federal Reserve minutes offered a counterpoint to the bond-market rally, with officials reportedly favoring a different policy direction. Investors will continue to monitor rate expectations for their effect on yields, the dollar and gold.
• Negative Sentiment: Elevated oil prices, inflation concerns and heavy Treasury issuance could keep long-term yields volatile. A renewed rise in yields or the dollar would likely pressure gold and GLD, as seen during the previous bond-market selloff. Can Gold Prices Hold as 30-Year Yields Hit 19-Year Highs?

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.