SPDR Gold Shares (NYSEARCA:GLD) Hits New 1-Year High – What’s Next?

SPDR Gold Shares (NYSEARCA:GLD) shares hit a new 52-week high during trading on Thursday . The company traded as high as $274.32 and last traded at $274.44, with a volume of 4262009 shares changing hands. The stock had previously closed at $270.33.

SPDR Gold Shares Price Performance

The stock has a fifty day moving average of $261.08 and a 200 day moving average of $249.42. The firm has a market capitalization of $82.74 billion, a P/E ratio of -29.30 and a beta of 0.20.

Institutional Trading of SPDR Gold Shares

A number of large investors have recently added to or reduced their stakes in GLD. Proficio Capital Partners LLC lifted its position in shares of SPDR Gold Shares by 24,245.2% during the fourth quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock worth $14,710,294,000 after acquiring an additional 60,504,152 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of SPDR Gold Shares during the 4th quarter worth $450,109,000. Leigh Baldwin & CO. LLC purchased a new position in SPDR Gold Shares in the fourth quarter worth $401,829,000. Wealthfront Advisers LLC increased its position in shares of SPDR Gold Shares by 1,374.2% during 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 purchasing an additional 1,045,499 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position in SPDR Gold Shares by 24,600.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 608,876 shares of the exchange traded fund’s stock valued at $147,427,000 after acquiring an additional 606,411 shares during the last quarter. 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).