Traders Buy SPDR Gold Trust (GLD) on Weakness

Investors bought shares of SPDR Gold Trust (NYSEARCA:GLD) on weakness during trading on Friday. $223.82 million flowed into the stock on the tick-up and $165.85 million flowed out of the stock on the tick-down, for a money net flow of $57.97 million into the stock. Of all stocks tracked, SPDR Gold Trust had the 7th highest net in-flow for the day. SPDR Gold Trust traded down ($0.21) for the day and closed at $124.77

Separately, Standpoint Research increased their price objective on shares of SPDR Gold Trust to $28,000.00 in a report on Thursday, December 7th.

The firm has a market cap of $34,960.00 and a price-to-earnings ratio of -14.34.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC lifted its stake in shares of SPDR Gold Trust by 17.3% in the third quarter. First Eagle Investment Management LLC now owns 6,299,803 shares of the exchange traded fund’s stock worth $765,930,000 after buying an additional 928,321 shares in the last quarter. CI Investments Inc. lifted its stake in shares of SPDR Gold Trust by 169.0% in the fourth quarter. CI Investments Inc. now owns 3,898,629 shares of the exchange traded fund’s stock worth $482,065,000 after buying an additional 2,449,200 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of SPDR Gold Trust by 58.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,273,616 shares of the exchange traded fund’s stock worth $281,133,000 after buying an additional 835,900 shares in the last quarter. South Texas Money Management Ltd. lifted its stake in shares of SPDR Gold Trust by 4.6% in the fourth quarter. South Texas Money Management Ltd. now owns 636,320 shares of the exchange traded fund’s stock worth $78,681,000 after buying an additional 27,885 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of SPDR Gold Trust by 13.3% in the third quarter. Envestnet Asset Management Inc. now owns 581,721 shares of the exchange traded fund’s stock worth $70,724,000 after buying an additional 68,407 shares in the last quarter.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this report on another publication, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this report can be viewed at https://stocknewstimes.com/2018/02/11/traders-buy-spdr-gold-trust-gld-on-weakness.html.

SPDR Gold Trust 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).

Receive News & Ratings for SPDR Gold Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR Gold Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply