PNC Financial Services Group Inc. Has $304.64 Million Stock Holdings in SPDR Gold Shares $GLD

PNC Financial Services Group Inc. boosted its position in SPDR Gold Shares (NYSEARCA:GLD) by 1.8% during the first quarter, HoldingsChannel.com reports. The fund owned 707,998 shares of the exchange traded fund’s stock after buying an additional 12,415 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SPDR Gold Shares were worth $304,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GLD. Brighton Jones LLC lifted its stake in SPDR Gold Shares by 20.4% during the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after purchasing an additional 1,903 shares during the last quarter. Bison Wealth LLC increased its stake in shares of SPDR Gold Shares by 77.8% in the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after purchasing an additional 2,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of SPDR Gold Shares during the 1st quarter worth $16,014,000. Schnieders Capital Management LLC. raised its holdings in shares of SPDR Gold Shares by 4.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after buying an additional 275 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of SPDR Gold Shares during the 2nd quarter worth $337,000. 42.19% of the stock is owned by institutional investors.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold prices recovered as buyers stepped in after the recent selloff, with analysts noting strong support from short covering, safe-haven demand, and ongoing central bank buying. Gold rallies as buyers ignore higher yields, oil shock – Kitco PM Report
• Positive Sentiment: Gold found support around $4,000 and traded higher even as Treasury yields and the U.S. dollar remained firm, suggesting resilient demand for the metal. Update: Gold Trading Higher, Finds Support at $4,000 Even as Dollar and Yields Rise
• Positive Sentiment: Market strategists and analysts said gold’s risk/reward profile has improved, with downside appearing more limited while long-term upside remains supported by central-bank demand and geopolitical uncertainty. Central bank gold demand has ‘very long runway’ as East/West market split returns – Schroders
• Neutral Sentiment: Some commentary noted that GLD remains the most liquid and widely used gold ETF, though it also pointed to its 0.40% expense ratio as a long-term drag versus cheaper alternatives. Gold Has Doubled in Less Than Two Years. Which ETF is Better to Play the Historic Rally, GLD or SGDM?
• Neutral Sentiment: Broader coverage highlighted that gold is still balancing safe-haven buying against higher-for-longer rate concerns, which could keep GLD volatile if yields and the dollar strengthen again. Gold Falls Amid Higher-For-Longer Interest-Rate Expectations

SPDR Gold Shares Stock Up 2.0%

Shares of GLD stock opened at $374.81 on Wednesday. The business has a fifty day simple moving average of $391.24 and a 200 day simple moving average of $424.50. The company has a market cap of $131.56 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70.

About SPDR Gold Shares

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.