SPDR Gold Shares (NYSEARCA:GLD) Reaches New 1-Year High – What’s Next?

SPDR Gold Shares (NYSEARCA:GLD) reached a new 52-week high during trading on Tuesday . The company traded as high as $253.17 and last traded at $253.08, with a volume of 278003 shares. The stock had previously closed at $251.22.

SPDR Gold Shares Stock Performance

The company’s 50-day moving average price is $238.17 and its 200 day moving average price is $225.40.

Hedge Funds Weigh In On SPDR Gold Shares

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of SPDR Gold Shares by 8.5% in the fourth quarter. Wellington Management Group LLP now owns 221,938 shares of the exchange traded fund’s stock worth $42,428,000 after buying an additional 17,428 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter valued at about $26,000. Gilman Hill Asset Management LLC grew its position in shares of SPDR Gold Shares by 8.5% during the first quarter. Gilman Hill Asset Management LLC now owns 1,402 shares of the exchange traded fund’s stock valued at $288,000 after purchasing an additional 110 shares in the last quarter. Columbus Macro LLC increased its holdings in shares of SPDR Gold Shares by 2.2% in the first quarter. Columbus Macro LLC now owns 3,550 shares of the exchange traded fund’s stock worth $730,000 after purchasing an additional 76 shares during the last quarter. Finally, Security National Bank purchased a new stake in shares of SPDR Gold Shares in the first quarter worth about $28,000. 42.19% of the stock is currently owned by hedge funds and other 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).