Western Wealth Management LLC Acquires 3,651 Shares of SPDR Gold Shares $GLD

Western Wealth Management LLC boosted its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 7.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 49,670 shares of the exchange traded fund’s stock after acquiring an additional 3,651 shares during the period. SPDR Gold Shares accounts for 0.8% of Western Wealth Management LLC’s portfolio, making the stock its 21st largest position. Western Wealth Management LLC’s holdings in SPDR Gold Shares were worth $21,372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GLD. WPG Advisers LLC bought a new stake in SPDR Gold Shares in the fourth quarter valued at about $25,000. Timmons Wealth Management LLC bought a new position in SPDR Gold Shares during the fourth quarter worth about $26,000. Chapman Financial Group LLC acquired a new position in shares of SPDR Gold Shares during the 2nd quarter worth about $26,000. Eukles Asset Management bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at about $27,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of SPDR Gold Shares in the 1st quarter valued at about $30,000. Institutional investors own 42.19% of the company’s stock.

Key SPDR Gold Shares News

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

• Positive Sentiment: Safe-haven demand linked to the Strait of Hormuz standoff, slipping equities and rising energy prices helped keep gold elevated. These conditions are supportive for GLD because they can increase demand for defensive assets. Gold holds near two-month high as equities slip, oil rallies
• Positive Sentiment: China’s first-half gold consumption rose 1.23% year over year as strong investment demand offset weaker jewelry sales, signaling continued physical and investment interest in the metal. China’s gold consumption rises in H1
• Positive Sentiment: Recent gold gains have been attributed to weaker U.S. employment data, lower real yields, easing Fed expectations, renewed ETF inflows and persistent central-bank buying. Analysts continue to identify a possible move toward $4,500 and, over a longer horizon, $5,000 per ounce. Gold price could test and move beyond recent highs
• Neutral Sentiment: Gold’s technical breakout above resistance is being tested. Support near $4,357 and the 52-week moving average around $4,350 could determine whether momentum resumes or fades; CPI is the next major catalyst. Gold breakout faces a key test
• Negative Sentiment: Profit-taking after gold’s sharp rally, a steadier dollar and elevated yields pressured precious metals. A stronger-than-expected inflation reading could further reduce expectations for Fed easing and weigh on GLD. Gold and silver ease ahead of CPI

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD opened at $400.96 on Wednesday. The company has a market capitalization of $141.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The firm’s 50 day simple moving average is $380.66 and its 200 day simple moving average is $420.60. SPDR Gold Shares has a fifty-two week low of $305.19 and a fifty-two week high of $509.70.

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.