Clear Street Group Inc. Cuts Stock Position in SPDR Gold Shares $GLD

Clear Street Group Inc. lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 37.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,584 shares of the exchange traded fund’s stock after selling 5,161 shares during the period. Clear Street Group Inc.’s holdings in SPDR Gold Shares were worth $3,402,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Prepared Retirement Institute LLC raised its stake in shares of SPDR Gold Shares by 1.6% in the 4th quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $526,000 after acquiring an additional 21 shares during the period. Hughes Financial Services LLC raised its stake in shares of SPDR Gold Shares by 3.4% in the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock valued at $264,000 after acquiring an additional 22 shares during the period. True Vision MN LLC raised its stake in shares of SPDR Gold Shares by 3.2% in the 4th quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock valued at $304,000 after acquiring an additional 24 shares during the period. Burns J W & Co. Inc. NY increased its stake in SPDR Gold Shares by 0.7% during the 4th quarter. Burns J W & Co. Inc. NY now owns 3,500 shares of the exchange traded fund’s stock worth $1,387,000 after buying an additional 25 shares during the period. Finally, PFS Partners LLC increased its stake in SPDR Gold Shares by 2.4% during the 4th quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock worth $427,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

SPDR Gold Shares stock opened at $386.54 on Friday. SPDR Gold Shares has a 12-month low of $299.89 and a 12-month high of $509.70. The company has a market capitalization of $140.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. The firm’s fifty day moving average price is $421.49 and its 200 day moving average price is $427.68.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold is showing signs of a rebound after holding major support, suggesting buyers are stepping in after the recent selloff. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
• Positive Sentiment: Safe-haven demand improved as Middle East tensions persisted and U.S.-Iran talk headlines supported a bid for precious metals. Gold and Silver Price Forecast: US-Iran Deal Hopes Lift XAUUSD and XAGUSD
• Positive Sentiment: Gold held key support around $4,000, and analysts said that level may act as a floor as investors cautiously return to the trade. Gold holds key $4,000 support as analysts watch for signs of a bottom
• Neutral Sentiment: The CME plans to offer 24/7 gold trading, which could improve access and liquidity but does not directly change fundamentals. CME to offer 24/7 gold and oil trading
• Neutral Sentiment: Gold remains caught between bargain-hunting support and macro pressure from higher-for-longer rate expectations and stronger U.S. inflation readings. Spot gold at $4,062/oz after U.S. May PPI rises 1.1%, core PPI up 0.4%
• Negative Sentiment: Several reports warn that gold remains under pressure from a stronger dollar, elevated yields, and fears the Fed may keep rates restrictive, which could limit any recovery in GLD. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor

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.