King Wealth Management Group Raises Position in SPDR Gold Shares $GLD

King Wealth Management Group increased its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 92.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,896 shares of the exchange traded fund’s stock after acquiring an additional 1,393 shares during the quarter. King Wealth Management Group’s holdings in SPDR Gold Shares were worth $1,148,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Flputnam Investment Management Co. raised its position in SPDR Gold Shares by 3.9% during the fourth quarter. Flputnam Investment Management Co. now owns 10,685 shares of the exchange traded fund’s stock valued at $4,234,000 after purchasing an additional 400 shares in the last quarter. Valtinson Bruner Financial Planning LLC raised its position in SPDR Gold Shares by 3.3% during the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 1,375 shares of the exchange traded fund’s stock valued at $545,000 after purchasing an additional 44 shares in the last quarter. Integrity Alliance LLC. raised its position in SPDR Gold Shares by 63.5% during the fourth quarter. Integrity Alliance LLC. now owns 30,301 shares of the exchange traded fund’s stock valued at $12,009,000 after purchasing an additional 11,765 shares in the last quarter. Collaborative Wealth Managment Inc. raised its position in SPDR Gold Shares by 20.8% during the fourth quarter. Collaborative Wealth Managment Inc. now owns 1,277 shares of the exchange traded fund’s stock valued at $506,000 after purchasing an additional 220 shares in the last quarter. Finally, Goepper Burkhardt LLC raised its position in SPDR Gold Shares by 15.6% during the fourth quarter. Goepper Burkhardt LLC now owns 1,925 shares of the exchange traded fund’s stock valued at $763,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

More SPDR Gold Shares News

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 Stock Up 0.0%

NYSEARCA GLD opened at $414.00 on Wednesday. The stock’s 50-day simple moving average is $427.78 and its two-hundred day simple moving average is $425.73. SPDR Gold Shares has a twelve month low of $299.89 and a twelve month high of $509.70. The company has a market capitalization of $150.57 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15.

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.