Sterling Investment Advisors Ltd. Has $49.45 Million Stake in SPDR Gold Shares $GLD

Sterling Investment Advisors Ltd. cut its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 9.5% during the 1st quarter, Holdings Channel reports. The firm owned 114,915 shares of the exchange traded fund’s stock after selling 12,112 shares during the quarter. SPDR Gold Shares comprises 8.2% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its biggest holding. Sterling Investment Advisors Ltd.’s holdings in SPDR Gold Shares were worth $49,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLD. Calder Financial LLC acquired a new position in SPDR Gold Shares in the 4th quarter valued at about $807,000. Crescent Grove Advisors LLC boosted its holdings in shares of SPDR Gold Shares by 25.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock worth $6,230,000 after acquiring an additional 3,175 shares during the period. Ervin Investment Management LLC acquired a new position in shares of SPDR Gold Shares in the fourth quarter valued at approximately $7,178,000. Cidel Asset Management Inc. lifted its holdings 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 worth $1,449,000 after purchasing an additional 1,384 shares during the last quarter. Finally, Dakota Wealth Management boosted its stake in SPDR Gold Shares by 89.3% in the 4th quarter. Dakota Wealth Management now owns 52,253 shares of the exchange traded fund’s stock valued at $20,708,000 after purchasing an additional 24,648 shares during the period. Institutional investors own 42.19% of the company’s stock.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold rallied after the June CPI report came in weaker than expected, easing pressure on the Federal Reserve and supporting bullion prices. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
• Positive Sentiment: Gold climbed off an eight-month low as the dollar and yields weakened, improving the outlook for gold-backed ETFs like GLD. Gold Rises Off an Eight-Month Low, Dollar Falls after US Consumer Prices Eased in June
• Positive Sentiment: Gold prices jumped toward the $4,100 level after the inflation report, with traders seeing room for the Fed to keep rates unchanged, a constructive setup for bullion. Gold prices surging higher to test resistance at $4,100 following sharp drop in U.S. inflation
• Neutral Sentiment: Some analysts say gold’s rebound may be just noise unless buyers can break key resistance levels, suggesting the move could remain choppy. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
• Negative Sentiment: Gold remains below key technical resistance in some forecasts, and broader bearish trends in yields and risk sentiment have kept pressure on the metal recently. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone
• Negative Sentiment: Gold had also been pressured earlier by rising global bond yields and concerns that a more hawkish Fed could keep rates elevated, which can weigh on GLD. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $372.15 on Wednesday. The stock’s fifty day moving average price is $397.55 and its two-hundred day moving average price is $425.73. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70. The firm has a market cap of $130.70 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares 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.