Gateway Wealth Partners LLC Increases Position in SPDR Gold Shares $GLD

Gateway Wealth Partners LLC lifted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 358.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,184 shares of the exchange traded fund’s stock after acquiring 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.

Other hedge funds have also recently made changes to their positions in the company. Prepared Retirement Institute LLC raised its holdings in SPDR Gold Shares by 1.6% in the fourth quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock worth $526,000 after purchasing an additional 21 shares in the last quarter. Hughes Financial Services LLC boosted its holdings in shares of SPDR Gold Shares by 3.4% in the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock valued at $264,000 after buying an additional 22 shares in the last quarter. PFS Partners LLC grew its position in shares of SPDR Gold Shares by 2.4% in the 4th quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock worth $427,000 after buying an additional 25 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in shares of SPDR Gold Shares by 28.7% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock worth $44,000 after acquiring an additional 25 shares in the last quarter. Finally, Leisure Capital Management lifted its position in SPDR Gold Shares by 1.9% during the fourth quarter. Leisure Capital Management now owns 1,371 shares of the exchange traded fund’s stock valued at $543,000 after acquiring an additional 25 shares during the last quarter. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

Key SPDR Gold Shares News

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 Price Performance

Shares of GLD opened at $371.90 on Monday. The company has a 50 day moving average of $388.19 and a two-hundred day moving average of $423.93. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70. The company has a market cap of $131.32 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

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.