Investors Buy Shares of SPDR Gold Shares (GLD) on Weakness

Traders purchased shares of SPDR Gold Shares (NYSEARCA:GLD) on weakness during trading on Tuesday. $179.17 million flowed into the stock on the tick-up and $152.69 million flowed out of the stock on the tick-down, for a money net flow of $26.48 million into the stock. Of all equities tracked, SPDR Gold Shares had the 23rd highest net in-flow for the day. SPDR Gold Shares traded down ($0.58) for the day and closed at $124.73

Separately, Standpoint Research boosted their price objective on SPDR Gold Shares to $28,000.00 in a research note on Thursday, December 7th.

The stock has a market cap of $35,320.00 and a P/E ratio of -14.34.

Institutional investors and hedge funds have recently modified their holdings of the company. Flow Traders U.S. LLC lifted its stake in shares of SPDR Gold Shares by 6,385.5% during the third quarter. Flow Traders U.S. LLC now owns 306,633 shares of the exchange traded fund’s stock valued at $37,280,000 after acquiring an additional 301,905 shares during the period. Chevy Chase Trust Holdings Inc. lifted its stake in SPDR Gold Shares by 42.1% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 7,410 shares of the exchange traded fund’s stock valued at $901,000 after buying an additional 2,195 shares during the period. ICONIQ Capital LLC lifted its stake in SPDR Gold Shares by 0.3% in the second quarter. ICONIQ Capital LLC now owns 749,997 shares of the exchange traded fund’s stock valued at $88,515,000 after buying an additional 1,992 shares during the period. Richard C. Young & CO. LTD. lifted its stake in SPDR Gold Shares by 2.5% in the second quarter. Richard C. Young & CO. LTD. now owns 319,285 shares of the exchange traded fund’s stock valued at $37,682,000 after buying an additional 7,930 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in SPDR Gold Shares by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 97,406 shares of the exchange traded fund’s stock valued at $11,496,000 after buying an additional 3,407 shares during the period.

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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).

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