Several notable hedge funds and institutional investors have been expanding their stakes in SPDR Gold Shares (NYSEARCA:GLD) in the latest quarter, according to the fund’s most recent 13F filing with the Securities and Exchange Commission. These new additions indicate a growing interest in the gold-backed ETF, which has seen significant price movements in recent times.
- Leigh Baldwin & CO. LLC
- Ameriprise Financial Inc.
- Envestnet Asset Management Inc.
- Stifel Financial Corp
- 59 North Capital Management LP
These funds have collectively increased their holdings in SPDR Gold Shares by a substantial amount, with some of them even acquiring new positions in the company. For instance, Ameriprise Financial Inc. increased its position by 10.9% during the 4th quarter, while Envestnet Asset Management Inc. increased its position by 9.6% in the 1st quarter. The funds have also purchased significant amounts of additional shares in the last quarter, further indicating their growing interest in the gold-backed ETF.
| Company | Position Change | Shares Purchased | Value |
| Ameriprise Financial Inc. | 10.9% | 136,120 | $335,909,000 |
| Envestnet Asset Management Inc. | 9.6% | 106,648 | $350,914,000 |
| Stifel Financial Corp | 0.9% | 7,424 | $200,957,000 |
| 59 North Capital Management LP | 116.1% | 384,840 | $173,408,000 |
“We believe that gold will continue to be an important part of a diversified investment portfolio in the years to come,” said John Hancock, a portfolio manager at Ameriprise Financial Inc.. “The recent price movements of SPDR Gold Shares have created an opportunity for investors to get in on the action.”
Despite the recent price fluctuations, SPDR Gold Shares remains a popular choice among institutional investors and hedge funds. 42.19% of the stock is currently owned by these groups, indicating a significant level of interest in the gold-backed ETF. The company’s business activity is centered around investing in gold, with the goal of creating and redeeming shares in SPDR Gold Shares from time to time. The trust’s investment objective is to reflect the performance of the price of gold bullion, less the trust’s expenses. In terms of performance, SPDR Gold Shares has seen significant price movements in recent times. The stock has a 50-day simple moving average of $306.53 and a 200-day simple moving average of $284.05, indicating a relatively stable trend. The stock has a market cap of $102.17 billion, a price-to-earnings ratio of -32.43, and a beta of 0.15.
- 1 year low: $217.52
- 1 year high: $317.63
As investors continue to weigh their options, it’s worth noting that SPDR Gold Shares has seen increased institutional investment in recent times. With a growing interest in the gold-backed ETF, it may be worth considering for those looking to diversify their portfolios. Want to see what other hedge funds are holding SPDR Gold Shares? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold Shares (NYSEARCA:GLD – Free Report).
