Mission Wealth Management LP Has $4.92 Million Stake in SPDR Gold Shares $GLD

Mission Wealth Management LP lifted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 45.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,422 shares of the exchange traded fund’s stock after acquiring an additional 3,886 shares during the quarter. Mission Wealth Management LP’s holdings in SPDR Gold Shares were worth $4,923,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GLD. Calder Financial LLC acquired a new stake in SPDR Gold Shares in the 4th quarter valued at $807,000. Empirical Asset Management LLC lifted its position in shares of SPDR Gold Shares by 256.7% during the third quarter. Empirical Asset Management LLC now owns 36,404 shares of the exchange traded fund’s stock valued at $12,941,000 after purchasing an additional 26,197 shares in the last quarter. Colonial Trust Advisors lifted its position in shares of SPDR Gold Shares by 7.6% during the third quarter. Colonial Trust Advisors now owns 19,720 shares of the exchange traded fund’s stock valued at $7,010,000 after purchasing an additional 1,385 shares in the last quarter. Ervin Investment Management LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter worth about $7,178,000. Finally, FAS Wealth Partners Inc. boosted its holdings in shares of SPDR Gold Shares by 71.1% in the 3rd quarter. FAS Wealth Partners Inc. now owns 20,916 shares of the exchange traded fund’s stock worth $7,435,000 after buying an additional 8,691 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key Stories Impacting SPDR Gold Shares

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

• Negative Sentiment: Gold fell further late Friday as the dollar and Treasury yields strengthened, with traders focused on whether the metal can hold the key $4,500 support zone. Silver dives below $76, gold tests $4,500 support as Iran risk drives oil, rate fears – Kitco PM Report
• Negative Sentiment: Technical commentary pointed to a bearish breakdown in gold, raising the risk of a deeper pullback toward major support levels. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support
• Negative Sentiment: Market reports said gold broke below $4,600 as rising yields and dollar strength outweighed traditional safe-haven demand. Gold breaks below $4,600 as dollar, yields overpower haven demand – Kitco AM Report
• Negative Sentiment: Additional commentary highlighted that hotter inflation data and a rally in the dollar have weakened bullish momentum in gold. Update: Gold Falls as the USD and Treasury Yields Surge on Inflation Worries
• Neutral Sentiment: Some analysts still noted strong long-term demand from central banks and continued interest in gold ETFs, which could help limit downside over time. Central Banks Are Snapping Up Gold, ETF Investors Are Just Waking Up: The Best Gold ETFs to Own Before It Hits $5,000

SPDR Gold Shares Stock Performance

Shares of NYSEARCA:GLD opened at $417.29 on Monday. The company’s 50-day moving average is $435.54 and its 200 day moving average is $423.31. The company has a market capitalization of $151.77 billion, a P/E ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a fifty-two week low of $291.78 and a fifty-two week high of $509.70.

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.