King Wealth Management Group Buys 1,393 Shares of SPDR Gold Shares $GLD

King Wealth Management Group lifted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 92.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,896 shares of the exchange traded fund’s stock after acquiring an additional 1,393 shares during the period. King Wealth Management Group’s holdings in SPDR Gold Shares were worth $1,148,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of SPDR Gold Shares in the fourth quarter worth $25,000. Eukles Asset Management purchased a new stake in shares of SPDR Gold Shares in the fourth quarter worth $27,000. Hopwood Financial Services Inc. purchased a new stake in shares of SPDR Gold Shares in the third quarter worth $27,000. Vestwell Advisors LLC purchased a new stake in shares of SPDR Gold Shares in the third quarter worth $27,000. Finally, USA Financial Formulas purchased a new stake in shares of SPDR Gold Shares in the fourth quarter worth $31,000. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $414.00 on Wednesday. SPDR Gold Shares has a 52-week low of $299.89 and a 52-week high of $509.70. The company has a market capitalization of $150.57 billion, a PE ratio of -32.43 and a beta of 0.15. The business’s fifty day moving average is $427.78 and its 200 day moving average is $425.73.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Options volume in SPDR Gold Shares (GLD) leaned bullish, suggesting some traders are positioning for a rebound or continued upside in gold. A battle is brewing in the gold pits. Here are the winners and losers
• Positive Sentiment: Gold remains above key support around $4,500, and analysts say the tight consolidation could set up a volatility-driven breakout if buyers regain control. Gold (XAU/USD) Price Forecast: Compression Signals Breakout Setup Ahead
• Neutral Sentiment: Reports showed strong bullion demand earlier in the year, including record gold and silver sales at the Royal Mint, which supports the longer-term investment case but does not appear to be driving today’s move. Royal Mint sees record gold, silver bullion sales between January and March
• Neutral Sentiment: Market commentary points to choppy trading as investors wait for more clarity on Middle East peace talks and the direction of U.S. rates and the dollar. Gold prices testing support at $4,500 as U.S. consumer confidence falls slight to 93.1
• Negative Sentiment: Spot gold prices moved lower as the U.S. dollar strengthened and renewed geopolitical developments reduced some safe-haven demand, weighing on GLD. Metals dip as S&P, Nasdaq hit records on Iran deal hopes – Kitco PM Report

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.