SPDR Gold Shares $GLD Stake Trimmed by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 456,249 shares of the exchange traded fund’s stock after selling 13,259 shares during the period. SPDR Gold Shares comprises 0.8% of Sequoia Financial Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Sequoia Financial Advisors LLC owned about 0.13% of SPDR Gold Shares worth $168,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GLD. City Holding Co. lifted its position in SPDR Gold Shares by 41.6% in the 2nd quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock worth $8,441,000 after buying an additional 6,733 shares in the last quarter. DDFG Inc grew its holdings in shares of SPDR Gold Shares by 57.5% during the 2nd quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock valued at $17,959,000 after acquiring an additional 17,793 shares in the last quarter. Crescent Grove Advisors LLC increased 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 worth $6,230,000 after acquiring an additional 3,175 shares during the last quarter. Arcus Capital Partners LLC increased its stake in shares of SPDR Gold Shares by 90.3% in the first quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock worth $3,633,000 after acquiring an additional 4,005 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 1,384 shares in the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Trading Up 0.9%

GLD opened at $403.35 on Thursday. The stock has a market cap of $142.42 billion, a price-to-earnings ratio of -32.43 and a beta of 0.19. SPDR Gold Shares has a 1 year low of $326.19 and a 1 year high of $509.70. The stock has a fifty day moving average price of $391.01 and a 200 day moving average price of $413.17.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Investors directed approximately $18 billion into gold ETFs during August, according to the World Gold Council, as concerns about rising sovereign debt increased demand for gold as a hedge against fiscal and currency risks. Investors pour $18 billion into gold ETFs in August
• Positive Sentiment: UBS said mounting fiscal concerns, inflation, geopolitical uncertainty and strong sovereign demand support maintaining a meaningful strategic allocation to gold, suggesting pullbacks may attract long-term buyers. UBS gold allocation outlook
• Positive Sentiment: China’s central bank purchased 20.2 tonnes of gold in August, its largest monthly addition since 2023, reinforcing the longer-term official-sector demand supporting GLD’s underlying asset. China central bank gold purchase
• Positive Sentiment: Gold rebounded as traders focused on bond-market stress and bond buybacks, while Middle East tensions continued to support safe-haven demand. Gold rebounds as traders focus on bond buybacks
• Neutral Sentiment: Gold remains technically constrained near major resistance, but analysts at Goldman Sachs and Société Générale continue to describe the broader trend as bullish, citing coordinated ETF, futures, options and physical demand. Société Générale gold outlook
• Negative Sentiment: Higher oil prices, Treasury yields and expectations of a September rate hike remain headwinds for non-yielding gold. Upcoming U.S. PPI and CPI data could increase volatility by changing rate expectations. Gold and silver slip as oil spike keeps Fed-hike trade alive

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.