Cynosure Group LLC Grows Stock Position in SPDR Gold Shares $GLD

Cynosure Group LLC grew its position in SPDR Gold Shares (NYSEARCA:GLD) by 32.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 62,170 shares of the exchange traded fund’s stock after buying an additional 15,225 shares during the quarter. SPDR Gold Shares makes up about 1.1% of Cynosure Group LLC’s portfolio, making the stock its 11th largest holding. Cynosure Group LLC’s holdings in SPDR Gold Shares were worth $24,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GLD. Morgan Stanley lifted its position in shares of SPDR Gold Shares by 22.4% in the fourth quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock valued at $5,506,229,000 after acquiring an additional 2,539,266 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of SPDR Gold Shares in the third quarter valued at approximately $556,282,000. Marino Management LLC purchased a new position in SPDR Gold Shares during the fourth quarter worth approximately $438,475,000. Corient Private Wealth LLC lifted its position in SPDR Gold Shares by 108.1% during the second quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock worth $327,500,000 after buying an additional 559,507 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in SPDR Gold Shares by 1,158.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 504,462 shares of the exchange traded fund’s stock worth $199,923,000 after buying an additional 464,376 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $396.55 on Tuesday. SPDR Gold Shares has a one year low of $299.89 and a one year high of $509.70. The company has a market cap of $144.23 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. The business’s 50 day moving average price is $420.83 and its 200 day moving average price is $428.13.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold rallied as the U.S.-Iran truce and the reopening of the Strait of Hormuz helped push oil lower, easing inflation fears and supporting lower Treasury yields. Gold Edges Higher, Extending Gains After U.S.-Iran Ceasefire
• Positive Sentiment: A World Gold Council survey found a record 45% of central banks plan to increase gold holdings, reinforcing the long-term demand backdrop for bullion and GLD. Record 45% of central banks plan increase gold holdings, WGC survey finds
• Positive Sentiment: Gold held near session highs after weak U.S. manufacturing data and higher input costs, which can bolster expectations for eventual Fed easing and support gold-linked ETFs like GLD. Gold prices holding near session highs as Empire State Survey falls to 5.7 in June
• Neutral Sentiment: Several market updates say gold is currently driven by technical recovery levels around support and resistance, suggesting near-term trading may depend on follow-through rather than a single new catalyst. Gold (XAUUSD) & Silver Price Forecast: Truce Stability vs Inflation Pressure Amid Iran-Israel Conflict – Upside Ahead?
• Negative Sentiment: Analysts also note inflation remains a headwind because it can keep rate-cut expectations in check, which may limit additional upside for gold and GLD. Gold and silver rally after Iran-U.S. deal, but face headwinds from rate hike expectations – Heraeus

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.