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

SPDR Gold Shares (NYSEARCA:GLD) saw an uptick in trading volume on Friday . 7,916,590 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 7,392,060 shares.The stock last traded at $224.57 and had previously closed at $219.80.

SPDR Gold Shares Stock Down 1.3 %

The company’s fifty day simple moving average is $198.31 and its 200-day simple moving average is $189.27.

Hedge Funds Weigh In On SPDR Gold Shares

Institutional investors and hedge funds have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its holdings in shares of SPDR Gold Shares by 67,584.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,037,008 shares of the exchange traded fund’s stock valued at $515,198,000 after buying an additional 3,032,521 shares during the last quarter. Scarborough Advisors LLC grew its holdings in shares of SPDR Gold Shares by 10,133.3% during the fourth quarter. Scarborough Advisors LLC now owns 2,662,393 shares of the exchange traded fund’s stock valued at $508,970,000 after buying an additional 2,636,376 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of SPDR Gold Shares by 19,989.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,437,035 shares of the exchange traded fund’s stock valued at $465,888,000 after buying an additional 2,424,904 shares during the last quarter. State Street Corp grew its holdings in shares of SPDR Gold Shares by 256.0% during the first quarter. State Street Corp now owns 1,142,717 shares of the exchange traded fund’s stock valued at $206,432,000 after buying an additional 821,773 shares during the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of SPDR Gold Shares during the first quarter valued at $144,269,000. 42.19% of the stock is 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).