SPDR Gold Shares (NYSEARCA:GLD) Sees Large Volume Increase

SPDR Gold Shares (NYSEARCA:GLD – Get Rating) shares saw unusually-high trading volume on Friday . Approximately 14,457,219 shares traded hands during mid-day trading, an increase of 110% from the previous session’s volume of 6,876,799 shares.The stock last traded at $183.52 and had previously closed at $178.57.

SPDR Gold Shares Stock Up 2.9 %

The stock’s 50 day moving average price is $174.78 and its two-hundred day moving average price is $165.58.

Institutional Trading of SPDR Gold Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norwood Financial Corp grew its position in SPDR Gold Shares by 183.3% during the third quarter. Norwood Financial Corp now owns 170 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 110 shares during the period. Old North State Trust LLC acquired a new stake in shares of SPDR Gold Shares in the third quarter valued at about $26,000. PayPay Securities Corp acquired a new stake in shares of SPDR Gold Shares in the fourth quarter valued at about $26,000. HBC Financial Services PLLC grew its position in shares of SPDR Gold Shares by 600.0% in the third quarter. HBC Financial Services PLLC now owns 175 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 150 shares during the period. Finally, Beaird Harris Wealth Management LLC grew its position in shares of SPDR Gold Shares by 73.7% in the second quarter. Beaird Harris Wealth Management LLC now owns 165 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 37.94% of the company’s stock.

SPDR Gold Shares Company Profile

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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).