SPDR Gold Shares (NYSEARCA:GLD) Sets New 52-Week High – Still a Buy?

SPDR Gold Shares (NYSEARCA:GLD)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $342.64 and last traded at $342.62, with a volume of 365031 shares traded. The stock had previously closed at $339.18.

SPDR Gold Shares Trading Up 0.4%

The firm has a 50 day moving average of $317.99 and a 200-day moving average of $305.41. The company has a market cap of $115.51 billion, a P/E ratio of -32.43 and a beta of 0.15.

Institutional Trading of SPDR Gold Shares

Several hedge funds have recently modified their holdings of the company. Principal Securities Inc. lifted its holdings in shares of SPDR Gold Shares by 0.3% in the 1st quarter. Principal Securities Inc. now owns 10,301 shares of the exchange traded fund’s stock valued at $2,968,000 after acquiring an additional 33 shares during the last quarter. TPG Advisors LLC raised its position in SPDR Gold Shares by 2.6% in the 2nd quarter. TPG Advisors LLC now owns 1,291 shares of the exchange traded fund’s stock worth $394,000 after purchasing an additional 33 shares during the period. Tsfg LLC lifted its stake in SPDR Gold Shares by 0.9% in the second quarter. Tsfg LLC now owns 3,623 shares of the exchange traded fund’s stock worth $1,104,000 after purchasing an additional 33 shares during the last quarter. Seeds Investor LLC boosted its position in shares of SPDR Gold Shares by 3.5% during the second quarter. Seeds Investor LLC now owns 976 shares of the exchange traded fund’s stock valued at $298,000 after buying an additional 33 shares during the period. Finally, Mather Group LLC. raised its holdings in shares of SPDR Gold Shares by 1.8% in the second quarter. Mather Group LLC. now owns 1,946 shares of the exchange traded fund’s stock worth $593,000 after buying an additional 34 shares during the period. 42.19% of the stock is owned by hedge funds and other institutional investors.

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).