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

SPDR Gold Shares (NYSEARCA:GLD) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $282.07 and last traded at $281.81, with a volume of 3135889 shares traded. The stock had previously closed at $278.24.

SPDR Gold Shares Trading Up 0.7 %

The stock has a market capitalization of $85.39 billion, a P/E ratio of -29.30 and a beta of 0.20. The stock’s 50-day moving average price is $267.64 and its two-hundred day moving average price is $252.76.

Institutional Trading of SPDR Gold Shares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fire Capital Management LLC purchased a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $3,419,000. Mascagni Wealth Management Inc. bought a new position in SPDR Gold Shares during the 4th quarter valued at about $576,000. Prostatis Group LLC raised its stake in SPDR Gold Shares by 11.7% during the 4th quarter. Prostatis Group LLC now owns 20,974 shares of the exchange traded fund’s stock valued at $5,078,000 after buying an additional 2,204 shares during the last quarter. M1 Capital Management LLC purchased a new position in SPDR Gold Shares in the fourth quarter worth about $375,000. Finally, DSG Capital Advisors LLC bought a new stake in SPDR Gold Shares during the fourth quarter valued at approximately $14,286,000. 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).