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

Shares of SPDR Gold Shares (NYSEARCA:GLD) 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 traded. The stock had previously closed at $278.24.

SPDR Gold Shares Price Performance

The stock has a market cap of $85.39 billion, a P/E ratio of -29.30 and a beta of 0.20. The business’s 50 day simple moving average is $267.64 and its 200 day simple moving average is $252.76.

Institutional Investors Weigh In On SPDR Gold Shares

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