Western Wealth Management LLC Has $18.24 Million Position in SPDR Gold Shares $GLD

Western Wealth Management LLC increased its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 84.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,019 shares of the exchange traded fund’s stock after buying an additional 21,123 shares during the quarter. SPDR Gold Shares comprises approximately 0.8% of Western Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest position. Western Wealth Management LLC’s holdings in SPDR Gold Shares were worth $18,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLD. Bank of Montreal Can bought a new stake in SPDR Gold Shares during the third quarter worth $556,282,000. Corient Private Wealth LLC lifted its stake in SPDR Gold Shares by 108.1% during the second quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock worth $327,500,000 after purchasing an additional 559,507 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in SPDR Gold Shares by 103.7% during the fourth quarter. Teacher Retirement System of Texas now owns 568,900 shares of the exchange traded fund’s stock worth $225,461,000 after purchasing an additional 289,550 shares during the last quarter. Children s Medical Center Corp bought a new stake in SPDR Gold Shares during the fourth quarter worth $88,734,000. Finally, iA Global Asset Management Inc. bought a new stake in SPDR Gold Shares during the third quarter worth $77,873,000. 42.19% of the stock is currently owned by institutional investors.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold is showing signs of stabilization after testing support, with several analysts saying the metal is defending key technical levels and may be poised for a bounce if buyers step back in. The gold chart looks poised for a bounce. How to play it for less
• Positive Sentiment: Geopolitical risk and persistent inflation concerns continue to support gold’s defensive appeal, helping offset some of the recent pressure from higher yields and a stronger dollar. Gold Rises; Defensive Appeal Remains Intact
• Positive Sentiment: Several forecasts still point to upside potential for gold longer term, with some strategists saying near-term headwinds could give way to a move toward the $5,000-an-ounce area by year-end. Gold will navigate near-term headwinds to reach $5,000/oz by year-end – ING’s Manthey
• Neutral Sentiment: Gold has been consolidating around major moving averages and resistance levels, so traders are watching for a breakout or another pullback before committing more capital. Gold (XAU/USD) Price Forecast: 100-Day Average Defines Next Move
• Neutral Sentiment: India’s higher import tariffs on gold and silver could affect physical demand, but the broader impact on GLD is still uncertain and may be offset by macro-driven buying. India Raises Gold, Silver Tariffs to Curb Imports
• Negative Sentiment: Hot U.S. CPI and PPI readings lifted the dollar and Treasury yields, which has recently pushed gold lower and reduced hopes for near-term Fed rate cuts. Gold News: Gold Price Future Weakens After PPI Shock and Rising Treasury Yields
• Negative Sentiment: Multiple market updates note gold retreating or slipping as rising yields and a stronger dollar continue to pressure precious metals in the short term. Gold and silver slip after hot PPI boosts yields – Kitco AM Report

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $430.50 on Thursday. The business has a fifty day moving average price of $437.45 and a two-hundred day moving average price of $422.61. SPDR Gold Shares has a fifty-two week low of $291.78 and a fifty-two week high of $509.70. The stock has a market capitalization of $156.57 billion, a PE ratio of -32.43 and a beta of 0.15.

About SPDR Gold Shares

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.