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

SPDR Gold Shares (NYSEARCA:GLD) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $351.04 and last traded at $351.68, with a volume of 868162 shares trading hands. The stock had previously closed at $346.74.

SPDR Gold Shares Stock Up 1.7%

The business’s fifty day moving average price is $320.20 and its 200 day moving average price is $307.23. The firm has a market capitalization of $117.58 billion, a PE ratio of -32.43 and a beta of 0.15.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GLD. Principal Securities Inc. lifted its position in SPDR Gold Shares by 0.3% in the first quarter. Principal Securities Inc. now owns 10,301 shares of the exchange traded fund’s stock worth $2,968,000 after buying an additional 33 shares during the last quarter. TPG Advisors LLC increased its stake in SPDR Gold Shares by 2.6% in the second 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 increased 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 period. Seeds Investor LLC increased its stake in SPDR Gold Shares by 3.5% in the second quarter. Seeds Investor LLC now owns 976 shares of the exchange traded fund’s stock worth $298,000 after purchasing an additional 33 shares during the period. Finally, Mather Group LLC. increased its stake in 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 purchasing an additional 34 shares during the period. 42.19% of the stock is owned by hedge funds and other institutional investors.

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).