MinichMacGregor Wealth Management LLC Has $35.25 Million Stake in SPDR Gold Shares $GLD

MinichMacGregor Wealth Management LLC trimmed its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 15.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,912 shares of the exchange traded fund’s stock after selling 15,186 shares during the period. SPDR Gold Shares comprises approximately 6.2% of MinichMacGregor Wealth Management LLC’s portfolio, making the stock its largest position. MinichMacGregor Wealth Management LLC’s holdings in SPDR Gold Shares were worth $35,246,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLD. WPG Advisers LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at about $25,000. Timmons Wealth Management LLC purchased a new stake in SPDR Gold Shares during the 4th quarter valued at about $26,000. Chapman Financial Group LLC bought a new position in SPDR Gold Shares during the 2nd quarter worth approximately $26,000. Vestwell Advisors LLC bought a new position in SPDR Gold Shares during the 3rd quarter worth approximately $27,000. Finally, Eukles Asset Management purchased a new position in SPDR Gold Shares in the 4th quarter worth approximately $27,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $365.92 on Thursday. SPDR Gold Shares has a fifty-two week low of $299.89 and a fifty-two week high of $509.70. The stock has a 50 day moving average price of $413.92 and a two-hundred day moving average price of $428.01. The company has a market capitalization of $133.09 billion, a P/E ratio of -32.43 and a beta of 0.14.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold-backed ETFs saw their biggest weekly inflow since April, suggesting some investors are buying the dip in bullion exposure even after several weeks of outflows. Gold ETFs Just Saw Their Biggest Weekly Inflow Since April After $7.6 Billion Exodus
• Neutral Sentiment: Some analysts still argue the long-term gold bull market is not necessarily over, even though the metal is in a deep correction and struggling to hold key support around $4,000 an ounce. Gold’s 28% correction is painful, but history suggests the bull market isn’t over
• Neutral Sentiment: China’s gold imports hit a 26-month high in May, showing strong physical demand in the world’s largest gold market despite the recent price decline. China gold imports hit 26-month high in May, up 76% YTD
• Negative Sentiment: Gold broke below long-term support and key technical levels, raising the risk of a deeper correction and reinforcing the near-term bearish trend for GLD. Gold (XAU/USD) Price Forecast: Breakdown Signals Risk of Deeper Correction
• Negative Sentiment: Several reports say gold has slipped below $4,000 an ounce, with banks cutting forecasts as a stronger dollar, higher yields, and reduced safe-haven demand weigh on prices. ING Cuts Gold and Silver Forecasts as Rising Yields and Stronger Dollar Weigh on Prices
• Negative Sentiment: Gold fell to a seven-month low as the dollar strengthened on inflation and Fed-policy worries, which is the main reason GLD is trading lower today. Update: Gold Falls to a Seven-Month Low as the Dollar Climbs on Inflation Worries

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.