SPDR Gold Shares $GLD Holdings Boosted by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. increased its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 546,779 shares of the exchange traded fund’s stock after buying an additional 31,897 shares during the quarter. SPDR Gold Shares accounts for about 3.8% of Sumitomo Mitsui Financial Group Inc.’s investment portfolio, making the stock its 4th largest position. Sumitomo Mitsui Financial Group Inc.’s holdings in SPDR Gold Shares were worth $216,694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hikari Tsushin Inc. bought a new stake in SPDR Gold Shares during the 4th quarter worth approximately $198,000. Keel Point LLC raised its stake in SPDR Gold Shares by 2.5% during the 4th quarter. Keel Point LLC now owns 92,925 shares of the exchange traded fund’s stock worth $36,827,000 after acquiring an additional 2,243 shares during the period. TCTC Holdings LLC raised its stake in SPDR Gold Shares by 1.6% during the 4th quarter. TCTC Holdings LLC now owns 22,247 shares of the exchange traded fund’s stock worth $8,817,000 after acquiring an additional 340 shares during the period. Premier Private Wealth Management LLC bought a new stake in SPDR Gold Shares during the 4th quarter worth approximately $240,000. Finally, Stirlingshire Investments Inc. bought a new stake in SPDR Gold Shares during the 4th quarter worth approximately $1,040,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold found buyers after testing major support, with some analysts saying the market may be forming a bottom near the $4,000 area. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
• Positive Sentiment: Some strategists argued the longer-term gold bull market is still intact despite the recent drop below key price levels, which could encourage dip buying in GLD. Don’t fear a drop below $4,000, gold’s bull market isnt broken – Thorsten Polleit
• Neutral Sentiment: Gold and GLD remain under pressure from higher-for-longer interest rate expectations, a stronger dollar, and elevated bond yields, which have driven the metal to recent six- and seven-month lows. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
• Neutral Sentiment: Mixed macro signals are keeping the ETF volatile: hotter-than-expected PPI and CPI readings are bearish for gold, while safe-haven demand from geopolitical tensions and talk of a potential bottom are offering some support. Update: Gold Rises on a Restart of Iranian Talks; U.S. Wholesale Inflation Rose More Than Expected in May
• Negative Sentiment: Several market reports warned that the recent decline may not be over, with GLD breaking key technical support and some traders betting the pain could last longer if rates stay elevated. As gold’s tumble continues, traders bet the pain may last for two more years

SPDR Gold Shares Trading Up 3.1%

NYSEARCA GLD opened at $386.32 on Friday. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70. The stock has a market cap of $140.50 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. The company’s 50 day moving average is $422.52 and its two-hundred day moving average is $427.97.

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.