Angeles Wealth Management LLC Increases Holdings in SPDR Gold Shares $GLD

Angeles Wealth Management LLC lifted its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 326.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,320 shares of the exchange traded fund’s stock after acquiring an additional 7,137 shares during the period. Angeles Wealth Management LLC’s holdings in SPDR Gold Shares were worth $4,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLD. WPG Advisers LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at approximately $25,000. Timmons Wealth Management LLC bought a new position in shares of SPDR Gold Shares during the 4th quarter valued at approximately $26,000. Chapman Financial Group LLC bought a new position in shares of SPDR Gold Shares during the 2nd quarter valued at approximately $26,000. Vestwell Advisors LLC bought a new position in shares of SPDR Gold Shares during the 3rd quarter valued at approximately $27,000. Finally, Eukles Asset Management purchased a new stake in SPDR Gold Shares during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Down 2.0%

Shares of GLD opened at $364.96 on Friday. The company has a market cap of $128.17 billion, a PE ratio of -32.43 and a beta of 0.17. The business has a fifty day moving average of $395.05 and a 200 day moving average of $425.09. SPDR Gold Shares has a 52-week low of $300.95 and a 52-week high of $509.70.

Key Stories Impacting SPDR Gold Shares

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

• Negative Sentiment: U.S. retail sales, jobless claims, and regional manufacturing data all came in stronger than expected, supporting the dollar and yields while weighing on gold. Update: Gold Trades Lower, Dollar and Yields Rise as US Retail Sales Growth Eased in June
• Negative Sentiment: Spot gold slipped below key psychological support near $4,000 as traders reacted to firmer yields and a stronger dollar, suggesting more near-term downside for bullion. Gold and silver fall as Fed-rate relief fades after data – Kitco AM Report
• Negative Sentiment: Multiple market reports flagged technical weakness, with gold breaking down from resistance and traders watching for deeper support levels if selling continues. Gold (XAU/USD) Price Forecast: Will Gold Break Below Major Support Levels?
• Negative Sentiment: GLD-specific flow data also looks unfavorable, with reports of roughly $14 billion to $15 billion in investor outflows since March, raising concerns about demand for the ETF itself. SPDR Gold Shares ETF sees $14B outflows since March 1 amid cost concerns

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.