SPDR Gold Shares (NYSEARCA:GLD) Hits New 12-Month High – Still a Buy?

SPDR Gold Shares (NYSEARCA:GLD)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $262.54 and last traded at $262.50, with a volume of 9703527 shares. The stock had previously closed at $259.94.

SPDR Gold Shares Trading Down 0.3 %

The business’s 50-day moving average is $247.54 and its 200-day moving average is $241.49.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Romano Brothers AND Company lifted its stake in shares of SPDR Gold Shares by 1.0% in the 3rd quarter. Romano Brothers AND Company now owns 4,122 shares of the exchange traded fund’s stock valued at $1,002,000 after purchasing an additional 40 shares during the period. Clarus Group Inc. raised its position in shares of SPDR Gold Shares by 2.2% in the fourth quarter. Clarus Group Inc. now owns 1,825 shares of the exchange traded fund’s stock worth $442,000 after acquiring an additional 40 shares during the period. Kellett Wealth Advisors LLC raised its position in shares of SPDR Gold Shares by 3.6% in the fourth quarter. Kellett Wealth Advisors LLC now owns 1,160 shares of the exchange traded fund’s stock worth $281,000 after acquiring an additional 40 shares during the period. Magnus Financial Group LLC boosted its stake in shares of SPDR Gold Shares by 0.6% during the 4th quarter. Magnus Financial Group LLC now owns 7,352 shares of the exchange traded fund’s stock worth $1,780,000 after acquiring an additional 41 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of SPDR Gold Shares by 25.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 199 shares of the exchange traded fund’s stock worth $48,000 after acquiring an additional 41 shares in 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).