SPDR Gold Shares $GLD Stock Sold by Fifth Third Securities Inc.

Fifth Third Securities Inc. cut its stake in SPDR Gold Shares (NYSEARCA:GLD) by 10.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 56,257 shares of the exchange traded fund’s stock after selling 6,860 shares during the quarter. SPDR Gold Shares comprises approximately 1.1% of Fifth Third Securities Inc.’s portfolio, making the stock its 17th biggest holding. Fifth Third Securities Inc.’s holdings in SPDR Gold Shares were worth $21,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sowell Financial Services LLC boosted its holdings in shares of SPDR Gold Shares by 8.6% during the 3rd quarter. Sowell Financial Services LLC now owns 7,349 shares of the exchange traded fund’s stock worth $2,799,000 after purchasing an additional 579 shares during the last quarter. Eagle Harbor Asset Management Inc. ADV boosted its holdings in SPDR Gold Shares by 7.3% in the 3rd quarter. Eagle Harbor Asset Management Inc. ADV now owns 1,308 shares of the exchange traded fund’s stock valued at $498,000 after purchasing an additional 89 shares during the last quarter. Range Financial Group LLC increased its holdings in shares of SPDR Gold Shares by 3.2% during the 3rd quarter. Range Financial Group LLC now owns 2,178 shares of the exchange traded fund’s stock worth $829,000 after buying an additional 67 shares during the last quarter. Carnegie Investment Counsel lifted its holdings in SPDR Gold Shares by 6.4% in the third quarter. Carnegie Investment Counsel now owns 7,393 shares of the exchange traded fund’s stock valued at $2,816,000 after acquiring an additional 442 shares during the last quarter. Finally, Ironwood Financial llc lifted its stake in shares of SPDR Gold Shares by 5.8% in the 3rd quarter. Ironwood Financial llc now owns 1,182 shares of the exchange traded fund’s stock valued at $450,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.2%

Shares of GLD traded up $0.86 during trading on Wednesday, reaching $378.51. 3,098,703 shares of the company traded hands, compared to its average volume of 11,483,111. The stock has a 50-day simple moving average of $396.43 and a 200-day simple moving average of $399.84. The stock has a market cap of $139.90 billion, a PE ratio of -32.43 and a beta of 0.18. SPDR Gold Shares has a twelve month low of $360.12 and a twelve month high of $509.70.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold is attempting to establish a technical bottom as the U.S. 10-year real yield eases to 2.77%. Lower real yields generally reduce the opportunity cost of holding gold and could help stabilize GLD. Gold Tests a Bottom as 10-Year Real Yields Ease to 2.77%
• Positive Sentiment: The World Gold Council says tokenized gold could eventually unlock as much as $700 billion in new investment demand by making bullion easier to own, trade and use. This is a longer-term potential catalyst for gold-backed ETFs such as GLD. Tokenized Gold Could Unlock $700 Billion New Demand
• Positive Sentiment: Briaud Financial Planning increased its GLD position by 5,738 shares, indicating continued institutional interest, although the purchase is relatively small compared with the ETF’s overall asset base. Briaud Financial Planning Buys Shares of GLD
• Neutral Sentiment: Gold is testing important support zones while analysts identify resistance levels that could determine whether the recent decline develops into a broader recovery. ETF holdings have reached records, but strong expectations for a December Fed hike remain a major counterforce. Gold and Silver Price Forecast
• Negative Sentiment: Rising crude oil prices are reinforcing inflation concerns and keeping expectations for further Fed tightening elevated. Higher yields and a stronger dollar have weighed on gold, the primary underlying asset for GLD. Gold Falls Amid Pressure From Rising Crude Prices
• Negative Sentiment: Russia sold 6.2 tonnes of gold in September, reducing its bullion reserves to their lowest level since 2019. The sale adds near-term supply and may signal weaker official-sector demand. Russia Sells Gold in September
• Negative Sentiment: GLD is down 5.3% year to date as the interest-rate environment remains unfavorable. Investors are also directing substantial money toward a cheaper SPDR gold fund, potentially diverting flows from GLD. Investors Sent $500 Million to the Cheaper SPDR Gold Fund

SPDR Gold Shares Company 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.