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

SPDR Gold Shares (NYSEARCA:GLD) shares reached a new 52-week high on Wednesday . The stock traded as high as $280.22 and last traded at $279.96, with a volume of 9405666 shares traded. The stock had previously closed at $276.73.

SPDR Gold Shares Trading Down 0.1 %

The company has a 50 day moving average of $263.87 and a 200 day moving average of $250.73. The firm has a market cap of $84.39 billion, a price-to-earnings ratio of -29.30 and a beta of 0.20.

Hedge Funds Weigh In On SPDR Gold Shares

Institutional investors have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new position in SPDR Gold Shares during the 4th quarter worth $26,000. Roxbury Financial LLC bought a new position in shares of SPDR Gold Shares during the fourth quarter worth approximately $31,000. PayPay Securities Corp boosted its stake in shares of SPDR Gold Shares by 55.3% in the fourth quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 47 shares during the period. Keystone Financial Group Inc. bought a new position in SPDR Gold Shares during the 4th quarter worth $39,000. Finally, Compass Planning Associates Inc acquired a new position in SPDR Gold Shares in the 4th quarter valued at $39,000. Institutional investors and hedge funds 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).