SPDR Gold Shares (NYSEARCA:GLD) Reaches New 52-Week High – What’s Next?

SPDR Gold Shares (NYSEARCA:GLD) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $268.66 and last traded at $268.37, with a volume of 13218761 shares trading hands. The stock had previously closed at $263.90.

SPDR Gold Shares Stock Up 0.1 %

The business has a fifty day moving average price of $249.27 and a 200 day moving average price of $242.89.

Institutional Trading of SPDR Gold Shares

Hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC raised its stake in shares of SPDR Gold Shares by 24,245.2% during the fourth quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock valued at $14,710,294,000 after purchasing an additional 60,504,152 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in SPDR Gold Shares by 21,571.1% in the 3rd quarter. International Assets Investment Management LLC now owns 3,024,639 shares of the exchange traded fund’s stock valued at $735,169,000 after acquiring an additional 3,010,682 shares during the last quarter. Raymond James Financial Inc. acquired a new position in SPDR Gold Shares in the fourth quarter worth approximately $450,109,000. Wealthfront Advisers LLC increased its holdings in shares of SPDR Gold Shares by 1,374.2% in the fourth quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock valued at $271,568,000 after buying an additional 1,045,499 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of SPDR Gold Shares by 3.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 980,065 shares of the exchange traded fund’s stock valued at $237,303,000 after acquiring an additional 32,712 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

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).