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

SPDR Gold Shares (NYSEARCA:GLD) hit a new 52-week high on Wednesday . The stock traded as high as $289.13 and last traded at $287.57, with a volume of 15832850 shares changing hands. The stock had previously closed at $288.14.

SPDR Gold Shares Stock Down 0.6 %

The firm has a market capitalization of $86.10 billion, a PE ratio of -30.67 and a beta of 0.17. The stock has a 50-day simple moving average of $270.43 and a 200-day simple moving average of $254.22.

Institutional Investors Weigh In On SPDR Gold Shares

Several large investors have recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of SPDR Gold Shares in the fourth quarter valued at approximately $26,000. Roxbury Financial LLC purchased a new position in SPDR Gold Shares in the 4th quarter valued at approximately $31,000. PayPay Securities Corp raised its holdings in SPDR Gold Shares by 55.3% during the 4th quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 47 shares during the period. Keystone Financial Group Inc. bought a new stake in SPDR Gold Shares during the 4th quarter valued at $39,000. Finally, Compass Planning Associates Inc purchased a new stake in shares of SPDR Gold Shares during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

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).