SPDR Gold Shares (NYSEARCA:GLD) Hits New 12-Month High – Should You Buy?

SPDR Gold Shares (NYSEARCA:GLD) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $305.89 and last traded at $305.23, with a volume of 4697219 shares changing hands. The stock had previously closed at $297.78.

SPDR Gold Shares Stock Performance

The company has a market capitalization of $92.04 billion, a price-to-earnings ratio of -30.67 and a beta of 0.17. The company’s fifty day simple moving average is $275.91 and its two-hundred day simple moving average is $257.27.

Institutional Trading of SPDR Gold Shares

Several hedge funds have recently added to or reduced their stakes in the business. Morse Asset Management Inc purchased a new position in SPDR Gold Shares during the 3rd quarter valued at about $1,929,000. SOA Wealth Advisors LLC. lifted its position in SPDR Gold Shares by 54.0% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 194 shares of the exchange traded fund’s stock worth $47,000 after buying an additional 68 shares in the last quarter. World Investment Advisors LLC boosted its stake in shares of SPDR Gold Shares by 17.3% during the 3rd quarter. World Investment Advisors LLC now owns 15,479 shares of the exchange traded fund’s stock valued at $3,762,000 after buying an additional 2,288 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of SPDR Gold Shares by 451.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 55,860 shares of the exchange traded fund’s stock valued at $13,577,000 after acquiring an additional 45,724 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of SPDR Gold Shares by 12.7% during the third quarter. Tidal Investments LLC now owns 14,850 shares of the exchange traded fund’s stock worth $3,609,000 after acquiring an additional 1,676 shares in the last quarter. 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).