Traders bought shares of SPDR Gold Trust (NYSEARCA:GLD) on weakness during trading on Wednesday. $147.73 million flowed into the stock on the tick-up and $44.16 million flowed out of the stock on the tick-down, for a money net flow of $103.57 million into the stock. Of all companies tracked, SPDR Gold Trust had the 3rd highest net in-flow for the day. SPDR Gold Trust traded down ($0.08) for the day and closed at $125.70
Separately, Standpoint Research boosted their target price on SPDR Gold Trust to $28,000.00 in a research report on Thursday, December 7th.
The company has a market cap of $35,300.00 and a PE ratio of -14.36.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CI Investments Inc. boosted its holdings 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 valued at $482,065,000 after purchasing an additional 2,449,200 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in 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. Quantitative Investment Management LLC raised its stake in SPDR Gold Trust by 521.4% in the fourth quarter. Quantitative Investment Management LLC now owns 865,000 shares of the exchange traded fund’s stock worth $106,957,000 after buying an additional 725,800 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in SPDR Gold Trust by 23.9% in the fourth quarter. Orbis Allan Gray Ltd now owns 862,858 shares of the exchange traded fund’s stock worth $106,693,000 after buying an additional 166,331 shares in the last quarter. Finally, South Texas Money Management Ltd. raised its stake in 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.
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About SPDR Gold Trust
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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