BlueChip Wealth Advisors LLC Has $5.60 Million Stock Holdings in SPDR Gold Shares $GLD

BlueChip Wealth Advisors LLC decreased its stake in SPDR Gold Shares (NYSEARCA:GLD) by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,018 shares of the exchange traded fund’s stock after selling 2,147 shares during the period. SPDR Gold Shares accounts for approximately 2.5% of BlueChip Wealth Advisors LLC’s holdings, making the stock its 12th largest position. BlueChip Wealth Advisors LLC’s holdings in SPDR Gold Shares were worth $5,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. WPG Advisers LLC acquired a new position in SPDR Gold Shares during the fourth quarter valued at approximately $25,000. Timmons Wealth Management LLC bought a new position in SPDR Gold Shares in the fourth quarter valued at approximately $26,000. Chapman Financial Group LLC acquired a new position in shares of SPDR Gold Shares during the 2nd quarter worth approximately $26,000. Vestwell Advisors LLC acquired a new position in shares of SPDR Gold Shares during the 3rd quarter worth approximately $27,000. Finally, Eukles Asset Management acquired a new position in shares of SPDR Gold Shares during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 1.4%

Shares of SPDR Gold Shares stock opened at $372.15 on Wednesday. The stock has a market cap of $130.70 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12-month low of $300.95 and a 12-month high of $509.70. The business’s 50 day moving average is $397.55 and its 200-day moving average is $425.73.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold rallied after the June CPI report came in weaker than expected, easing pressure on the Federal Reserve and supporting bullion prices. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
• Positive Sentiment: Gold climbed off an eight-month low as the dollar and yields weakened, improving the outlook for gold-backed ETFs like GLD. Gold Rises Off an Eight-Month Low, Dollar Falls after US Consumer Prices Eased in June
• Positive Sentiment: Gold prices jumped toward the $4,100 level after the inflation report, with traders seeing room for the Fed to keep rates unchanged, a constructive setup for bullion. Gold prices surging higher to test resistance at $4,100 following sharp drop in U.S. inflation
• Neutral Sentiment: Some analysts say gold’s rebound may be just noise unless buyers can break key resistance levels, suggesting the move could remain choppy. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
• Negative Sentiment: Gold remains below key technical resistance in some forecasts, and broader bearish trends in yields and risk sentiment have kept pressure on the metal recently. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone
• Negative Sentiment: Gold had also been pressured earlier by rising global bond yields and concerns that a more hawkish Fed could keep rates elevated, which can weigh on GLD. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns

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.