SPDR Gold Shares (NYSEARCA:GLD) Reaches New 1-Year High – Still a Buy?

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

SPDR Gold Shares Trading Up 0.8 %

The business has a 50-day simple moving average of $238.17 and a 200 day simple moving average of $225.40.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Triad Wealth Partners LLC purchased a new position in shares of SPDR Gold Shares during the second quarter valued at approximately $25,000. Semmax Financial Advisors Inc. boosted its stake in shares of SPDR Gold Shares by 78.7% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 109 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 48 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of SPDR Gold Shares in the first quarter worth $26,000. Private Ocean LLC increased its position in SPDR Gold Shares by 155.1% during the second quarter. Private Ocean LLC now owns 125 shares of the exchange traded fund’s stock valued at $27,000 after acquiring an additional 76 shares during the last quarter. Finally, Security National Bank bought a new position in SPDR Gold Shares in the first quarter valued at about $28,000. 42.19% of the stock is currently owned by 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).