SPDR Gold Shares (NYSEARCA:GLD) Sets New 1-Year High – Here’s Why

SPDR Gold Shares (NYSEARCA:GLD)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $247.90 and last traded at $247.89, with a volume of 202412 shares traded. The stock had previously closed at $245.92.

SPDR Gold Shares Price Performance

The stock has a 50-day moving average of $236.15 and a 200-day moving average of $224.31.

Institutional Investors Weigh In On SPDR Gold Shares

Institutional investors and hedge funds have recently bought and sold shares of the stock. City Holding Co. increased its stake in SPDR Gold Shares by 5.6% in the first quarter. City Holding Co. now owns 3,708 shares of the exchange traded fund’s stock valued at $763,000 after acquiring an additional 195 shares during the last quarter. St. Johns Investment Management Company LLC lifted its holdings in shares of SPDR Gold Shares by 5.7% in the 1st quarter. St. Johns Investment Management Company LLC now owns 27,729 shares of the exchange traded fund’s stock worth $5,704,000 after acquiring an additional 1,492 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in shares of SPDR Gold Shares by 19.9% in the 1st quarter. Traynor Capital Management Inc. now owns 1,720 shares of the exchange traded fund’s stock valued at $354,000 after purchasing an additional 285 shares in the last quarter. Trust Co. of Toledo NA OH grew its holdings in shares of SPDR Gold Shares by 17.4% during the 1st quarter. Trust Co. of Toledo NA OH now owns 4,830 shares of the exchange traded fund’s stock valued at $994,000 after purchasing an additional 715 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in SPDR Gold Shares by 6.5% in the first quarter. AdvisorNet Financial Inc now owns 12,289 shares of the exchange traded fund’s stock worth $2,528,000 after purchasing an additional 751 shares during the last quarter. 42.19% of the stock is 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).