SPDR Gold Shares (NYSEARCA:GLD) Hits New 52-Week High – Should You Buy?

SPDR Gold Shares (NYSEARCA:GLD)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $257.99 and last traded at $257.97, with a volume of 4705135 shares changing hands. The stock had previously closed at $254.20.

SPDR Gold Shares Trading Up 1.5 %

The stock’s 50-day moving average is $245.98 and its 200-day moving average is $240.26.

Institutional Trading of SPDR Gold Shares

A number of hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of SPDR Gold Shares in the third quarter valued at about $28,000. Roxbury Financial LLC acquired a new stake in SPDR Gold Shares during the 4th quarter valued at approximately $31,000. PayPay Securities Corp raised its holdings in SPDR Gold Shares by 55.3% during the 4th quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 47 shares during the last quarter. Capital Performance Advisors LLP bought a new position in SPDR Gold Shares during the 3rd quarter worth approximately $35,000. Finally, Pittenger & Anderson Inc. acquired a new position in shares of SPDR Gold Shares in the 3rd quarter worth approximately $38,000. 42.19% of the stock is owned by institutional investors and hedge funds.

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).