SPDR Gold Shares $GLD Position Increased by Western Wealth Management LLC

Western Wealth Management LLC grew its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 7.9% during the first quarter, Holdings Channel reports. The firm owned 49,670 shares of the exchange traded fund’s stock after acquiring an additional 3,651 shares during the quarter. SPDR Gold Shares comprises 0.8% of Western Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. Western Wealth Management LLC’s holdings in SPDR Gold Shares were worth $21,372,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. WPG Advisers LLC bought a new position in SPDR Gold Shares in the fourth quarter worth about $25,000. Timmons Wealth Management LLC bought a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $26,000. Eukles Asset Management bought a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new stake in shares of SPDR Gold Shares during the 1st quarter worth approximately $30,000. Finally, Parvin Asset Management LLC acquired a new stake in shares of SPDR Gold Shares during the 1st quarter worth approximately $31,000. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Trading Up 1.6%

Shares of NYSEARCA GLD opened at $377.16 on Friday. The company has a market cap of $133.36 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12-month low of $302.86 and a 12-month high of $509.70. The stock’s 50 day simple moving average is $384.75 and its 200 day simple moving average is $422.83.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: June PCE inflation came in softer and the dollar weakened, helping gold rebound after the Federal Reserve held interest rates while maintaining a hawkish stance. Because GLD tracks gold bullion, lower inflation and potential future rate relief support its investment appeal. Gold holds above $4,100 as softer PCE offsets hawkish Fed
• Positive Sentiment: Analysts said the Fed’s decision to keep rates unchanged provided relief for gold, while central-bank purchases and strong Asian buying indicated that underlying demand remains resilient despite the second-quarter selloff. Gold demand proves resilient despite Q2 selloff
• Positive Sentiment: Retail bullion demand is showing signs of recovery, with the Royal Mint reporting stronger purchases of digital gold and silver after the recent correction. Retail investors buy the dip
• Neutral Sentiment: Gold remains in a consolidation range after finding support near $4,000. A sustained move above roughly $4,203 could signal a broader bullish reversal, but failure to break that resistance would keep GLD range-bound. Gold price forecast and resistance analysis
• Negative Sentiment: The Fed’s hawkish messaging, firm Treasury yields and resilient weekly jobless-claims data continue to reduce expectations for near-term rate cuts, creating headwinds for non-yielding gold. Gold steadies as GDP and PCE keep rate risk alive
• Negative Sentiment: Consumers continue selling unwanted gold jewelry while prices remain elevated, adding potential supply and limiting upside momentum. Investors continue selling unwanted gold jewelry

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.