CoreCap Advisors LLC Has $22.19 Million Position in SPDR Gold Shares $GLD

CoreCap Advisors LLC lifted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 52.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,242 shares of the exchange traded fund’s stock after acquiring an additional 20,814 shares during the period. SPDR Gold Shares makes up about 0.7% of CoreCap Advisors LLC’s portfolio, making the stock its 21st largest holding. CoreCap Advisors LLC’s holdings in SPDR Gold Shares were worth $22,192,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Calder Financial LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter worth $807,000. Crescent Grove Advisors LLC increased its holdings in shares of SPDR Gold Shares by 25.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock worth $6,230,000 after buying an additional 3,175 shares in the last quarter. Arcus Capital Partners LLC lifted its stake in shares of SPDR Gold Shares by 90.3% in the 1st quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after acquiring an additional 4,005 shares during the last quarter. Ervin Investment Management LLC acquired a new stake in shares of SPDR Gold Shares during the 4th quarter valued at $7,178,000. Finally, Cidel Asset Management Inc. boosted its holdings in shares of SPDR Gold Shares by 69.8% during the 1st quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock valued at $1,449,000 after acquiring an additional 1,384 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.7%

Shares of GLD stock opened at $374.16 on Wednesday. The firm has a market capitalization of $132.12 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a twelve month low of $305.19 and a twelve month high of $509.70. The stock’s fifty day simple moving average is $382.26 and its 200 day simple moving average is $421.76.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Cooling labor data supports gold: June JOLTS job openings fell more than expected to 7.36 million, reinforcing expectations that weaker employment could eventually give the Federal Reserve room to ease policy. Gold also remains supported ahead of Friday’s nonfarm payrolls report. Gold price catching a bid as JOLTS job openings drop to 7.36 million
• Positive Sentiment: Structural demand remains strong: The Bank of Korea began a long-term domestic gold-buying program, adding to record central-bank demand. Central banks purchased about 289 metric tonnes in the second quarter, while Tether added roughly 14 tonnes and increased its physical gold holdings above 146 tonnes. These purchases provide a longer-term support base for GLD. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Technical momentum is improving: Gold is holding above its 20-day moving average, with resistance near $4,166 and $4,203. A break above those levels could attract additional buying and improve sentiment toward GLD. Gold XAU/USD Price Forecast: Can Gold Break Above $4,203?
• Neutral Sentiment: Investors remain focused on competing macro signals: Safe-haven demand related to Middle East tensions and shifting Fed expectations is supporting gold, but improving U.S. activity data and uncertainty ahead of payrolls are keeping the metal in a broad range near the $4,000 area. Gold Rises; Focus on U.S. Labor Data
• Negative Sentiment: Yields and fund flows remain headwinds: Higher real and long-term Treasury yields increase the opportunity cost of holding non-yielding gold. GLD also saw reported outflows of nearly $113 million, indicating that some investors are favoring income-producing assets. Tether Strikes Gold: Crypto’s Physical Pivot

SPDR Gold Shares Company 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.