SPDR Gold Shares $GLD is World Equity Group Inc.’s 6th Largest Position

World Equity Group Inc. raised its position in SPDR Gold Shares (NYSEARCA:GLD) by 98.6% in the 2nd quarter, Holdings Channel reports. The fund owned 27,556 shares of the exchange traded fund’s stock after acquiring an additional 13,679 shares during the period. SPDR Gold Shares accounts for approximately 2.3% of World Equity Group Inc.’s holdings, making the stock its 6th biggest position. World Equity Group Inc.’s holdings in SPDR Gold Shares were worth $10,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Prepared Retirement Institute LLC lifted its position in SPDR Gold Shares by 1.6% in the fourth quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $526,000 after purchasing an additional 21 shares during the period. Hughes Financial Services LLC increased its position in SPDR Gold Shares by 3.4% during the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 22 shares during the period. Steigerwald Gordon & Koch Inc. raised its stake in shares of SPDR Gold Shares by 28.7% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 25 shares in the last quarter. Leisure Capital Management raised its stake in shares of SPDR Gold Shares by 1.9% during the 4th quarter. Leisure Capital Management now owns 1,371 shares of the exchange traded fund’s stock worth $543,000 after buying an additional 25 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC raised its stake in shares of SPDR Gold Shares by 3.3% during the 4th quarter. Parr Mcknight Wealth Management Group LLC now owns 772 shares of the exchange traded fund’s stock worth $306,000 after buying an additional 25 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $398.47 on Monday. The business’s fifty day moving average price is $381.05 and its 200 day moving average price is $421.14. SPDR Gold Shares has a 1-year low of $305.19 and a 1-year high of $509.70. The firm has a market capitalization of $140.70 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: Gold surged toward the $4,350-per-ounce area after the weak jobs report, marking its strongest weekly performance since early in the year and providing the primary catalyst for GLD’s advance. Gold prices surging higher as U.S. economy loses 23k jobs in July
• Positive Sentiment: Investors are increasingly positioning for lower interest rates, with falling yields and a weaker dollar supporting gold and other precious metals. Gold rallies as traders bet on dovish Fed
• Positive Sentiment: Central-bank demand remains a tailwind: the People’s Bank of China made its largest monthly gold purchase since 2023 and has now bought gold for 21 consecutive months. PBOC boosts gold buying with largest monthly purchase since 2023
• Positive Sentiment: Gold-backed ETFs recorded renewed inflows in July after two months of outflows, suggesting investor demand for products such as GLD is improving. Gold market sees positive ETF inflows in July
• Neutral Sentiment: Technical momentum has improved, but analysts identify the $4,382–$4,392 area and higher resistance near $4,494 as important tests; failure to hold the breakout could trigger a pullback. Gold breakout builds toward key resistance
• Negative Sentiment: Gold remains well below its January record, and some investors have taken profits. A new study also questions gold’s effectiveness as a long-term inflation hedge, which could temper demand. If you buy gold to protect against inflation, you’re doing it wrong

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.