Stonehearth Capital Management LLC Sells 2,018 Shares of SPDR Gold Shares $GLD

Stonehearth Capital Management LLC trimmed its position in SPDR Gold Shares (NYSEARCA:GLD) by 9.0% during the first quarter, HoldingsChannel.com reports. The firm owned 20,394 shares of the exchange traded fund’s stock after selling 2,018 shares during the quarter. SPDR Gold Shares accounts for approximately 3.5% of Stonehearth Capital Management LLC’s investment portfolio, making the stock its 8th biggest holding. Stonehearth Capital Management LLC’s holdings in SPDR Gold Shares were worth $8,775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GLD. Presilium Private Wealth LLC acquired a new stake in SPDR Gold Shares in the 1st quarter valued at approximately $204,000. Vermillion Wealth Management Inc. boosted its position in SPDR Gold Shares by 4.4% during the first quarter. Vermillion Wealth Management Inc. now owns 850 shares of the exchange traded fund’s stock valued at $366,000 after purchasing an additional 36 shares during the last quarter. Certified Advisory Corp boosted its holdings in shares of SPDR Gold Shares by 0.9% in the 1st quarter. Certified Advisory Corp now owns 13,194 shares of the exchange traded fund’s stock valued at $5,677,000 after buying an additional 115 shares during the last quarter. Signal Advisors Wealth LLC grew its stake in shares of SPDR Gold Shares by 5.6% in the first quarter. Signal Advisors Wealth LLC now owns 12,617 shares of the exchange traded fund’s stock valued at $5,429,000 after buying an additional 673 shares in the last quarter. Finally, Essex Bank increased its holdings in SPDR Gold Shares by 3.5% during the first quarter. Essex Bank now owns 2,190 shares of the exchange traded fund’s stock worth $942,000 after buying an additional 75 shares during the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold is being viewed by some portfolio managers as an attractive buying opportunity after its recent pullback, with de-dollarization trends still seen as supportive over the longer term. Gold’s pullback creates attractive entry as de-dollarization turns structural – KMLM’s Prior
• Positive Sentiment: China’s gold imports jumped to a 26-month high in May, suggesting physical demand remains strong even after the recent price decline. China gold imports hit 26-month high in May, up 76% YTD
• Neutral Sentiment: Gold briefly bounced from session lows after better-than-expected U.S. PMI data, showing that the metal is still reacting quickly to macroeconomic releases. Spot gold rises from session lows as flash S&P composite PMI improves to 52.2
• Negative Sentiment: Gold has been falling for multiple sessions as the dollar strengthens and rate-hike fears rise, pressuring GLD lower. Gold and silver tumble as rate-hike fears hit precious metals
• Negative Sentiment: Deutsche Bank and BMO both trimmed gold forecasts, citing weaker investor demand and the Fed’s hawkish shift, which could keep GLD under pressure near term. BMO cuts gold price forecast as Fed’s hawkish shift weighs on precious metals Deutsche Bank cuts 2026 gold price targets to $4,300/oz for Q3, $4,800/oz in Q4 as investor demand drops

SPDR Gold Shares Trading Down 1.9%

NYSEARCA GLD opened at $377.32 on Wednesday. The firm’s fifty day moving average price is $415.31 and its two-hundred day moving average price is $428.16. SPDR Gold Shares has a 1 year low of $299.89 and a 1 year high of $509.70. The firm has a market capitalization of $137.23 billion, a P/E ratio of -32.43 and a beta of 0.14.

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.