Gateway Wealth Partners LLC Raises Stake in SPDR Gold Shares $GLD

Gateway Wealth Partners LLC lifted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 358.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,184 shares of the exchange traded fund’s stock after purchasing an additional 28,287 shares during the period. Gateway Wealth Partners LLC’s holdings in SPDR Gold Shares were worth $15,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLD. WPG Advisers LLC purchased a new stake in shares of SPDR Gold Shares in the fourth quarter valued at approximately $25,000. Timmons Wealth Management LLC bought a new stake in SPDR Gold Shares during the 4th quarter valued at $26,000. Eukles Asset Management purchased a new stake in shares of SPDR Gold Shares in the 4th quarter worth $27,000. Private Wealth Management Group LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter worth $30,000. Finally, USA Financial Formulas bought a new position in shares of SPDR Gold Shares during the 4th quarter worth $31,000. Institutional investors own 42.19% of the company’s stock.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold is holding above the important $4,000 level, suggesting buyers are still stepping in on dips and that the market may be forming a base. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports hit a two-year high, signaling strong physical demand from the world’s largest bullion market. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Lower Treasury yields and a pullback in oil prices have helped gold rebound intraday, reinforcing its role as a defensive asset. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: ETF flow data show investors rotating toward commodities and other defensive exposures, which can support demand for gold-backed funds like GLD. The Defensive Shift: This Week’s Top 10 ETF Inflows

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $371.90 on Monday. The stock’s fifty day moving average price is $388.19 and its 200-day moving average price is $423.93. The firm has a market cap of $131.32 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month 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.