SPDR Gold Shares $GLD Stock: Milestone Asset Management LLC Trims Holdings

Milestone Asset Management LLC lessened its position in SPDR Gold Shares (NYSEARCA:GLD) by 54.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,580 shares of the exchange traded fund’s stock after selling 3,116 shares during the quarter. Milestone Asset Management LLC’s holdings in SPDR Gold Shares were worth $983,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC acquired a new stake in SPDR Gold Shares during the 1st quarter worth $30,000. Parvin Asset Management LLC acquired a new stake in shares of SPDR Gold Shares in the first quarter valued at about $31,000. Longview Financial Advisors Inc. acquired a new stake in shares of SPDR Gold Shares in the first quarter valued at about $35,000. NBH Bank acquired a new stake in shares of SPDR Gold Shares in the second quarter valued at about $41,000. Finally, Trust Co. of Vermont purchased a new position in shares of SPDR Gold Shares in the second quarter worth about $43,000. 42.19% of the stock is owned by institutional investors and hedge funds.

More SPDR Gold Shares News

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

• Positive Sentiment: China’s central bank added 23 tonnes of gold to its reserves in September, while Chinese gold ETFs recorded strong inflows and holiday demand for jewelry, bars and coins improved. These trends support physical and investment demand for gold. China buys the gold dip as ETF holdings hit record and holiday demand lifts Q4 outlook
• Positive Sentiment: Earlier declines in the U.S. dollar and Treasury yields helped gold rebound, while weaker-than-expected Philadelphia Fed manufacturing data increased demand for defensive assets. Gold rebounds as dollar dives
• Positive Sentiment: Analysts continue to cite central-bank purchases, ETF inflows and potential debasement risks as reasons for a longer-term gold recovery; Jefferies reportedly sees potential for gold to reach $5,000 in 2027. Gold’s weakness is a buying opportunity

SPDR Gold Shares Trading Up 1.8%

GLD opened at $382.71 on Friday. SPDR Gold Shares has a twelve month low of $360.12 and a twelve month high of $509.70. The firm has a market capitalization of $141.30 billion, a PE ratio of -32.43 and a beta of 0.18. The firm’s 50-day moving average price is $397.68 and its 200 day moving average price is $400.85.

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.