Wingate Wealth Advisors Reduces SPDR Gold Shares Holdings by 4.8%

Wingate Wealth Advisors Inc. has decreased its holdings in SPDR Gold Shares (NYSEARCA: GLD) by 4.8% during the second quarter, as detailed in its recent Form 13F filing with the U.S. Securities and Exchange Commission. The firm now owns 3,876 shares of the exchange-traded fund, following the sale of 194 shares during this period. As of the latest filing, Wingate’s stake in SPDR Gold Shares is valued at approximately $1,182,000.

In addition to Wingate’s actions, several other institutional investors have also adjusted their positions in SPDR Gold Shares. For instance, MJT & Associates Financial Advisory Group Inc. established a new stake in the fund worth about $30,000 during the first quarter. Similarly, both Columbia River Financial Group LLC and Stone House Investment Management LLC each acquired new stakes valued at approximately $34,000.

Legacy Wealth Management LLC ID notably increased its position by 51.1% in the same quarter, bringing its total to 136 shares worth $39,000 after purchasing an additional 46 shares. HWG Holdings LP also entered the market with a new investment around $53,000 in SPDR Gold Shares during the first quarter.

Institutional investors and hedge funds now hold 42.19% of SPDR Gold Shares, reflecting a significant interest in this investment vehicle.

Current Market Performance of SPDR Gold Shares

On Friday, shares of SPDR Gold Shares opened at $388.99. The stock has experienced considerable fluctuations over the past year, with a twelve-month low of $236.13 and a high of $397.28. The market capitalization of SPDR Gold Shares stands at $138.95 billion, with a price-to-earnings (P/E) ratio of -32.43 and a beta of 0.15, indicating lower volatility compared to the broader market.

The 50-day simple moving average is currently $338.26, while the 200-day simple moving average is $316.27. These indicators reflect the ongoing performance trends of the fund, which aims to mirror the price movements of gold bullion, minus the Trust’s expenses.

SPDR Gold Trust, the entity behind SPDR Gold Shares, seeks to provide investors with a way to gain exposure to gold without the complexities of physical ownership. The Trust facilitates the creation and redemption of shares in bulk, in blocks referred to as Baskets, each consisting of 100,000 shares.

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