WealthSpring Partners LLC Invests $1.02 Million in SPDR Gold Shares $GLD

WealthSpring Partners LLC acquired a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,568 shares of the exchange traded fund’s stock, valued at approximately $1,018,000. SPDR Gold Shares comprises 1.0% of WealthSpring Partners LLC’s portfolio, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. WPG Advisers LLC purchased a new position in SPDR Gold Shares in the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new position in shares of SPDR Gold Shares in the 2nd quarter valued at $26,000. Vestwell Advisors LLC acquired a new position in shares of SPDR Gold Shares in the 3rd quarter valued at $27,000. Eukles Asset Management purchased a new position in shares of SPDR Gold Shares in the 4th quarter valued at $27,000. Finally, USA Financial Formulas purchased a new position in shares of SPDR Gold Shares in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of GLD opened at $386.32 on Friday. SPDR Gold Shares has a 1-year low of $299.89 and a 1-year high of $509.70. The stock has a market cap of $140.50 billion, a PE ratio of -32.43 and a beta of 0.14. The firm has a fifty day moving average price of $422.52 and a 200 day moving average price of $427.97.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold and silver bounced as hopes for a U.S.-Iran deal weakened the dollar, while continued geopolitical uncertainty kept some safe-haven buying in the market. Gold and Silver Price Forecast: US-Iran Deal Hopes Lift XAUUSD and XAGUSD
• Positive Sentiment: Traders are defending major support around the $4,000-an-ounce area, and several analysts say the long-term gold bull market is still intact despite the recent pullback. Don’t fear a drop below $4,000, gold’s bull market isn’t broken – Thorsten Polleit
• Neutral Sentiment: Gold rebounded from recent lows and is trying to establish a bottom, but it still needs a stronger breakout above key resistance levels to confirm a sustained recovery. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
• Neutral Sentiment: Gold remains in a broad technical downtrend after breaking below major moving averages, leaving the ETF sensitive to further swings in inflation, yields, and Fed policy expectations. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Negative Sentiment: Hot U.S. inflation readings and expectations for higher-for-longer interest rates continue to weigh on gold, which is making it harder for GLD to recover meaningfully. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor

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.