North Star Asset Management Inc. Makes New $5.79 Million Investment in SPDR Gold Shares $GLD

North Star Asset Management Inc. purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,709 shares of the exchange traded fund’s stock, valued at approximately $5,787,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GLD. Public Employees Retirement System of Ohio acquired a new position in SPDR Gold Shares in the second quarter valued at about $40,080,000. First Bancorp Inc ME bought a new stake in shares of SPDR Gold Shares in the second quarter worth about $2,586,000. Compass Financial Management LLC acquired a new stake in shares of SPDR Gold Shares during the second quarter worth about $53,000. Bank of Korea acquired a new stake in shares of SPDR Gold Shares during the second quarter worth about $250,411,831,000. Finally, Shelter Mutual Insurance Co bought a new position in shares of SPDR Gold Shares during the 2nd quarter valued at about $839,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

NYSEARCA:GLD opened at $422.60 on Friday. The business’s 50-day simple moving average is $385.45 and its 200-day simple moving average is $416.67. SPDR Gold Shares has a fifty-two week low of $313.07 and a fifty-two week high of $509.70. The stock has a market capitalization of $149.22 billion, a PE ratio of -32.43 and a beta of 0.17.

Key SPDR Gold Shares News

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

• Positive Sentiment: Strategists at UBS and other market participants continue to see substantial long-term upside for gold as fiscal pressures and central-bank diversification encourage demand for bullion. UBS analysts said gold could rise above $5,400 by next summer, strengthening the outlook for GLD. Gold is a clear beneficiary of de-dollarization
• Positive Sentiment: Gold-focused and cryptocurrency ETFs attracted roughly $7 billion in inflows, highlighting investor demand for hard-asset protection against inflation and fiat-currency risk. That trend is supportive of GLD flows and sentiment. SPDR Gold Shares and iShares Bitcoin Trust lead $7B inflows
• Positive Sentiment: Technical analysts say gold’s broader uptrend remains intact, with support around its 200-day moving average potentially setting up a move toward $4,774-$4,780 if buyers regain control. Gold Price Tests $4,527 Support With $4,774 Target in Play
• Neutral Sentiment: Gold is consolidating near key levels after a sharp August rally. Resistance around $4,700 and support near $4,500-$4,527 leave GLD particularly sensitive to upcoming Federal Reserve guidance and Treasury-market moves. Gold Price Faces $4,700 Resistance With $4,500 Support in Focus
• Negative Sentiment: Hotter-than-expected PCE inflation and stronger jobless-claims and durable-goods data have lifted yields and kept the possibility of additional Fed tightening alive. Higher rates increase the opportunity cost of holding gold and could pressure GLD if the dollar strengthens. Gold steadies near $4,590 as claims dip, Fed hike risk stays live
• Negative Sentiment: Analysts warn that gold may be overbought after its substantial recent rally, increasing the risk of profit-taking and short-term volatility in GLD. Gold bulls still in control as market holds well above key support

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.