SPDR Gold Shares (NYSEARCA:GLD) Sets New 52-Week High – Still a Buy?

SPDR Gold Shares (NYSEARCA:GLD)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $282.07 and last traded at $281.81, with a volume of 3135889 shares trading hands. The stock had previously closed at $278.24.

SPDR Gold Shares Trading Up 1.1 %

The stock has a market cap of $84.52 billion, a price-to-earnings ratio of -29.30 and a beta of 0.20. The firm’s 50 day moving average is $266.32 and its two-hundred day moving average is $252.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. abrdn plc boosted its position in SPDR Gold Shares by 93.7% during the 4th quarter. abrdn plc now owns 13,994 shares of the exchange traded fund’s stock worth $3,391,000 after purchasing an additional 6,768 shares during the period. WMG Financial Advisors LLC boosted its position in shares of SPDR Gold Shares by 18.9% in the fourth quarter. WMG Financial Advisors LLC now owns 5,344 shares of the exchange traded fund’s stock worth $1,294,000 after buying an additional 851 shares during the period. Cassaday & Co Wealth Management LLC grew its stake in shares of SPDR Gold Shares by 1.8% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 4,962 shares of the exchange traded fund’s stock valued at $1,201,000 after buying an additional 90 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its position in SPDR Gold Shares by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 64,674 shares of the exchange traded fund’s stock worth $15,659,000 after acquiring an additional 3,356 shares in the last quarter. Finally, BKM Wealth Management LLC boosted its holdings in SPDR Gold Shares by 5.9% in the 4th quarter. BKM Wealth Management LLC now owns 5,838 shares of the exchange traded fund’s stock worth $1,414,000 after acquiring an additional 327 shares during the period. Institutional investors and hedge funds 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).