SPDR Gold Shares (NYSEARCA:GLD) Sets New 12-Month High – Time to Buy?

Shares of SPDR Gold Shares (NYSEARCA:GLD) hit a new 52-week high on Tuesday . The stock traded as high as $270.69 and last traded at $270.52, with a volume of 4149293 shares changing hands. The stock had previously closed at $266.29.

SPDR Gold Shares Price Performance

The stock has a fifty day simple moving average of $252.48 and a 200-day simple moving average of $244.82.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLD. Vicus Capital acquired a new position in shares of SPDR Gold Shares in the 3rd quarter valued at $271,000. Eastern Bank purchased a new stake in SPDR Gold Shares during the third quarter worth $806,000. Waldron Private Wealth LLC boosted its position in shares of SPDR Gold Shares by 10.2% in the 3rd quarter. Waldron Private Wealth LLC now owns 2,580 shares of the exchange traded fund’s stock worth $627,000 after buying an additional 238 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in SPDR Gold Shares in the 3rd quarter valued at about $45,000. Finally, Tempus Wealth Planning LLC raised its position in SPDR Gold Shares by 2.8% during the third quarter. Tempus Wealth Planning LLC now owns 2,207 shares of the exchange traded fund’s stock worth $536,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

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).