SPDR Gold Shares (NYSEARCA:GLD) Sets New 12-Month High – Time to Buy?

Shares of SPDR Gold Shares (NYSEARCA:GLD) reached a new 52-week high on Monday . The company traded as high as $271.95 and last traded at $272.04, with a volume of 3557198 shares changing hands. The stock had previously closed at $270.74.

SPDR Gold Shares Price Performance

The firm has a 50-day simple moving average of $253.00 and a 200-day simple moving average of $245.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Proficio Capital Partners LLC boosted its stake in SPDR Gold Shares by 24,245.2% in the 4th quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock worth $14,710,294,000 after purchasing an additional 60,504,152 shares during the period. Raymond James Financial Inc. bought a new stake in SPDR Gold Shares in the 4th quarter valued at $450,109,000. Leigh Baldwin & CO. LLC purchased a new stake in SPDR Gold Shares in the 4th quarter worth $401,829,000. Ameriprise Financial Inc. boosted its holdings in shares of SPDR Gold Shares by 10.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,387,693 shares of the exchange traded fund’s stock valued at $335,909,000 after purchasing an additional 136,120 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in shares of SPDR Gold Shares by 1,374.2% during the fourth quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock valued at $271,568,000 after purchasing an additional 1,045,499 shares in the last quarter. Hedge funds and other institutional investors 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).