SPDR Gold Shares (NYSEARCA:GLD) Hits New 12-Month High – Here’s Why

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

SPDR Gold Shares Price Performance

The company has a market capitalization of $82.74 billion, a P/E ratio of -29.30 and a beta of 0.20. The stock has a 50-day moving average price of $261.08 and a 200-day moving average price of $249.42.

Institutional Investors Weigh In On SPDR Gold Shares

A number of hedge funds have recently added to or reduced their stakes in GLD. Murphy & Mullick Capital Management Corp acquired a new position in shares of SPDR Gold Shares during the fourth quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in SPDR Gold Shares during the third quarter worth $28,000. Roxbury Financial LLC acquired a new position in SPDR Gold Shares during the fourth quarter worth $31,000. PayPay Securities Corp lifted 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 in the last quarter. Finally, Compass Planning Associates Inc bought a new stake in shares of SPDR Gold Shares during the fourth quarter worth about $39,000. 42.19% of the stock is currently owned by 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).