Hilltop Holdings Inc. Sells 11,144 Shares of SPDR Gold Shares $GLD

Hilltop Holdings Inc. trimmed its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 13.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 74,054 shares of the exchange traded fund’s stock after selling 11,144 shares during the period. SPDR Gold Shares accounts for approximately 2.9% of Hilltop Holdings Inc.’s portfolio, making the stock its 2nd largest position. Hilltop Holdings Inc.’s holdings in SPDR Gold Shares were worth $31,865,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GLD. WPG Advisers LLC acquired a new position in SPDR Gold Shares in the 4th quarter valued at about $25,000. Timmons Wealth Management LLC acquired a new stake in SPDR Gold Shares during the 4th quarter worth approximately $26,000. Chapman Financial Group LLC acquired a new stake in SPDR Gold Shares during the 2nd quarter worth approximately $26,000. Eukles Asset Management purchased a new position in shares of SPDR Gold Shares in the 4th quarter valued at approximately $27,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of SPDR Gold Shares in the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 0.1%

NYSEARCA:GLD opened at $371.90 on Friday. The firm has a market cap of $131.06 billion, a P/E ratio of -32.43 and a beta of 0.17. The stock’s 50 day simple moving average is $388.19 and its 200-day simple moving average is $423.83. SPDR Gold Shares has a 12-month low of $300.95 and a 12-month high of $509.70.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold is holding above the important $4,000 level, suggesting buyers are still stepping in on dips and that the market may be forming a base. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports hit a two-year high, signaling strong physical demand from the world’s largest bullion market. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Lower Treasury yields and a pullback in oil prices have helped gold rebound intraday, reinforcing its role as a defensive asset. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: ETF flow data show investors rotating toward commodities and other defensive exposures, which can support demand for gold-backed funds like GLD. The Defensive Shift: This Week’s Top 10 ETF Inflows

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.