Chicago Partners Investment Group LLC Sells 2,496 Shares of SPDR Gold Shares $GLD

Chicago Partners Investment Group LLC cut its position in SPDR Gold Shares (NYSEARCA:GLD) by 22.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,695 shares of the exchange traded fund’s stock after selling 2,496 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in SPDR Gold Shares were worth $3,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Calder Financial LLC bought a new position in shares of SPDR Gold Shares during the 4th quarter worth about $807,000. Crescent Grove Advisors LLC lifted its stake in shares of 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 valued at $6,230,000 after buying an additional 3,175 shares during the period. Ervin Investment Management LLC bought a new stake in shares of SPDR Gold Shares in the fourth quarter valued at about $7,178,000. Cidel Asset Management Inc. grew its position in SPDR Gold Shares by 69.8% during the first quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock worth $1,449,000 after buying an additional 1,384 shares in the last quarter. Finally, Cinctive Capital Management LP grew its position in SPDR Gold Shares by 157.9% during the third quarter. Cinctive Capital Management LP now owns 9,795 shares of the exchange traded fund’s stock worth $3,482,000 after buying an additional 5,997 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Down 2.6%

Shares of GLD opened at $367.13 on Tuesday. SPDR Gold Shares has a 12-month low of $300.95 and a 12-month high of $509.70. The firm has a market capitalization of $128.90 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The stock’s 50-day moving average price is $398.48 and its 200 day moving average price is $426.01.

Key Headlines Impacting SPDR Gold Shares

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

• Neutral Sentiment: Gold’s near-term direction is being driven by a key macro week featuring U.S. CPI, Fed-related commentary, and geopolitical risks around the Strait of Hormuz, all of which could shift rate expectations and demand for safe-haven assets. Gold News: Gold Price Hinges on CPI, Warsh and Hormuz Risks
• Neutral Sentiment: Some analysts argue gold’s longer-term case remains intact even if the U.S. dollar stays strong in the short run, framing recent weakness as a temporary pullback rather than a breakdown in the metal’s reserve-asset appeal. Gold is becoming the reserve asset of the new multipolar world – Sprott’s Paul Wong
• Negative Sentiment: Gold slid to a monthly low as renewed fighting in the U.S.-Iran conflict and rising oil prices increased inflation concerns and supported expectations for tighter-for-longer Fed policy, which tends to weigh on non-yielding gold and GLD. Update: Gold Falls to Monthly Low as Renewed US-Iran Fighting Fuels Inflation Concerns
• Negative Sentiment: Precious metals are weak as traders bet on a hawkish Fed, with gold testing the $4,000 level while oil-driven inflation fears and a stronger dollar continue to pressure prices. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests The $4000 Level

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.