SPDR Gold Shares (NYSEARCA:GLD) Sets New 1-Year High – Should You Buy?

SPDR Gold Shares (NYSEARCA:GLD)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $292.43 and last traded at $291.86, with a volume of 8441079 shares trading hands. The stock had previously closed at $285.38.

SPDR Gold Shares Price Performance

The stock has a fifty day moving average price of $273.23 and a two-hundred day moving average price of $255.88. The company has a market cap of $87.88 billion, a P/E ratio of -30.67 and a beta of 0.17.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Proficio Capital Partners LLC boosted its stake in SPDR Gold Shares by 24,245.2% during the 4th 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. Raymond James Financial Inc. bought a new position in SPDR Gold Shares during the fourth quarter valued at about $450,109,000. Leigh Baldwin & CO. LLC acquired a new position in SPDR Gold Shares during the fourth quarter worth about $401,829,000. Ameriprise Financial Inc. grew its holdings in SPDR Gold Shares by 10.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,387,693 shares of the exchange traded fund’s stock worth $335,909,000 after acquiring an additional 136,120 shares during the period. Finally, Wealthfront Advisers LLC lifted its holdings in SPDR Gold Shares by 1,374.2% in the 4th quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock valued at $271,568,000 after acquiring an additional 1,045,499 shares during the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

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).