SPDR Gold Shares (NYSEARCA:GLD) Stock Pass Above 200 Day Moving Average – Here’s Why

SPDR Gold Shares (NYSEARCA:GLD) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $235.51 and traded as high as $241.08. SPDR Gold Shares shares last traded at $240.63, with a volume of 3,514,579 shares trading hands.

SPDR Gold Shares Price Performance

The company’s 50 day simple moving average is $245.67 and its two-hundred day simple moving average is $235.51.

Institutional Trading of SPDR Gold Shares

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of SPDR Gold Shares by 21,571.1% in the third quarter. International Assets Investment Management LLC now owns 3,024,639 shares of the exchange traded fund’s stock valued at $735,169,000 after purchasing an additional 3,010,682 shares during the period. Envestnet Asset Management Inc. lifted its position in SPDR Gold Shares by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,128,933 shares of the exchange traded fund’s stock worth $242,732,000 after acquiring an additional 28,683 shares during the last quarter. Stifel Financial Corp boosted its holdings in SPDR Gold Shares by 13.9% during the third quarter. Stifel Financial Corp now owns 822,531 shares of the exchange traded fund’s stock valued at $199,924,000 after acquiring an additional 100,149 shares during the period. State Street Corp grew its position in shares of SPDR Gold Shares by 6.6% in the third quarter. State Street Corp now owns 764,315 shares of the exchange traded fund’s stock valued at $185,774,000 after purchasing an additional 47,507 shares during the last quarter. Finally, Arizona PSPRS Trust bought a new position in shares of SPDR Gold Shares in the second quarter worth about $157,187,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

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).