SPDR Gold Shares (NYSEARCA:GLD) Sets New 52-Week High – Here’s Why

SPDR Gold Shares (NYSEARCA:GLD) reached a new 52-week high during trading on Thursday . The company traded as high as $257.99 and last traded at $257.97, with a volume of 4705135 shares. The stock had previously closed at $254.20.

SPDR Gold Shares Stock Performance

The company’s 50-day moving average price is $246.38 and its 200 day moving average price is $240.62.

Hedge Funds Weigh In On SPDR Gold Shares

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in shares of SPDR Gold Shares by 21,571.1% during the third 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 purchasing an additional 3,010,682 shares in the last quarter. Stifel Financial Corp grew its holdings in SPDR Gold Shares by 13.9% during the 3rd quarter. Stifel Financial Corp now owns 822,531 shares of the exchange traded fund’s stock valued at $199,924,000 after buying an additional 100,149 shares in the last quarter. State Street Corp grew its holdings in SPDR Gold Shares by 6.6% during the 3rd quarter. State Street Corp now owns 764,315 shares of the exchange traded fund’s stock valued at $185,774,000 after buying an additional 47,507 shares in the last quarter. US Bancorp DE increased its holdings in shares of SPDR Gold Shares by 0.5% in the 3rd quarter. US Bancorp DE now owns 691,648 shares of the exchange traded fund’s stock worth $168,112,000 after buying an additional 3,614 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of SPDR Gold Shares by 4.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 665,498 shares of the exchange traded fund’s stock valued at $161,670,000 after acquiring an additional 30,952 shares during the last quarter. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

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).