SPDR Gold Shares (NYSEARCA:GLD) Sees Strong Trading Volume – Here’s What Happened

SPDR Gold Shares (NYSEARCA:GLD) shares saw an uptick in trading volume on Friday . 22,145,911 shares changed hands during mid-day trading, an increase of 97% from the previous session’s volume of 11,268,380 shares.The stock last traded at $390.26 and had previously closed at $396.45.

SPDR Gold Shares Trading Down 1.9%

The stock has a market cap of $138.95 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The stock has a 50-day moving average price of $338.26 and a two-hundred day moving average price of $316.27.

Institutional Trading of SPDR Gold Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLD. Brighton Jones LLC lifted its position in SPDR Gold Shares by 20.4% during the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after acquiring an additional 1,903 shares during the period. Bison Wealth LLC lifted its position in SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock worth $1,438,000 after acquiring an additional 2,600 shares during the period. GAMMA Investing LLC lifted its position in SPDR Gold Shares by 226.0% during the 1st quarter. GAMMA Investing LLC now owns 577 shares of the exchange traded fund’s stock worth $166,000 after acquiring an additional 400 shares during the period. Carret Asset Management LLC lifted its position in SPDR Gold Shares by 9.2% during the 1st quarter. Carret Asset Management LLC now owns 4,433 shares of the exchange traded fund’s stock worth $1,277,000 after acquiring an additional 375 shares during the period. Finally, PFG Investments LLC lifted its position in SPDR Gold Shares by 19.7% during the 1st quarter. PFG Investments LLC now owns 28,780 shares of the exchange traded fund’s stock worth $8,293,000 after acquiring an additional 4,745 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Company Profile

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).