Evelyn Partners Asset Management Ltd Reduces Stock Position in SPDR Gold Shares $GLD

Evelyn Partners Asset Management Ltd lowered its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 11.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 61,557 shares of the exchange traded fund’s stock after selling 7,573 shares during the period. SPDR Gold Shares makes up about 6.5% of Evelyn Partners Asset Management Ltd’s portfolio, making the stock its biggest position. Evelyn Partners Asset Management Ltd’s holdings in SPDR Gold Shares were worth $26,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Calder Financial LLC bought a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $807,000. Crescent Grove Advisors LLC raised its stake in SPDR Gold Shares by 25.3% in 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 holdings in SPDR Gold Shares by 90.3% during the first quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock worth $3,633,000 after buying an additional 4,005 shares during the period. Ervin Investment Management LLC bought a new stake in SPDR Gold Shares during the 4th quarter valued at $7,178,000. Finally, Cidel Asset Management Inc. boosted its position in 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. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Trading Up 0.7%

GLD opened at $374.63 on Tuesday. The firm has a market cap of $132.28 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month high of $509.70. The stock has a fifty day moving average price of $387.31 and a 200-day moving average price of $423.66.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Lower crude-oil prices following a pause in U.S.-Iran hostilities reduced near-term inflation pressure, while softer Treasury yields and a weaker U.S. dollar supported gold and GLD. Gold continues to hold $4,000 as U.S.-Iran pause pressures crude oil
• Positive Sentiment: Longer-term demand remains constructive: State Street said gold’s next major $1,000 move could be higher if Federal Reserve hawkishness has peaked, while central-bank purchases and ETF inflows continue to provide support. Gold’s next $1,000 move is likely higher as Fed hawkishness peaks
• Positive Sentiment: Asian demand, particularly from China, is viewed as an important source of support; BMO Capital Markets believes China’s gold holdings could surpass U.S. holdings within five years. China’s gold stockpile could surpass U.S. holdings
• Neutral Sentiment: Investors are awaiting the Federal Reserve decision and upcoming inflation data. Gold may consolidate around $4,000 until policymakers provide clearer guidance on interest rates. Gold and Silver Price Forecast: Fed Decision Could Trigger Next Breakout
• Negative Sentiment: Persistent expectations for restrictive Fed policy, coupled with weak Western demand, have limited gold’s upside. Gains also faded below $4,100, showing that a consistent safe-haven bid has not yet emerged. Gold remains stuck below $4,100

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.