Investors sold shares of SPDR Gold Shares (NYSEARCA:GLD) on strength during trading hours on Friday. $70.98 million flowed into the stock on the tick-up and $121.95 million flowed out of the stock on the tick-down, for a money net flow of $50.97 million out of the stock. Of all stocks tracked, SPDR Gold Shares had the 0th highest net out-flow for the day. SPDR Gold Shares traded up $0.63 for the day and closed at $120.94
Separately, Standpoint Research lifted their price target on shares of SPDR Gold Shares to $28,000.00 in a research note on Thursday, December 7th.
The firm has a market capitalization of $34,520.00 and a price-to-earnings ratio of -13.90.
Several hedge funds and other institutional investors have recently bought and sold shares of GLD. Bronfman E.L. Rothschild L.P. raised its holdings in SPDR Gold Shares by 302.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 49,462 shares of the exchange traded fund’s stock valued at $5,838,000 after buying an additional 37,179 shares during the period. Adventist Health System Sunbelt Healthcare Corp purchased a new stake in SPDR Gold Shares in the 2nd quarter valued at about $58,494,000. Flow Traders U.S. LLC raised its holdings in SPDR Gold Shares by 6,385.5% in the 3rd quarter. Flow Traders U.S. LLC now owns 306,633 shares of the exchange traded fund’s stock valued at $37,280,000 after buying an additional 301,905 shares during the period. Sequoia Financial Advisors LLC grew its position in SPDR Gold Shares by 3.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 31,441 shares of the exchange traded fund’s stock valued at $3,711,000 after acquiring an additional 1,049 shares in the last quarter. Finally, ICONIQ Capital LLC grew its position in SPDR Gold Shares by 0.3% in the 2nd quarter. ICONIQ Capital LLC now owns 749,997 shares of the exchange traded fund’s stock valued at $88,515,000 after acquiring an additional 1,992 shares in the last quarter.
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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).
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