Traders Sell SPDR Gold Trust (GLD) on Strength (GLD)

Traders sold shares of SPDR Gold Trust (NYSEARCA:GLD) on strength during trading hours on Wednesday. $193.57 million flowed into the stock on the tick-up and $289.04 million flowed out of the stock on the tick-down, for a money net flow of $95.47 million out of the stock. Of all stocks tracked, SPDR Gold Trust had the 19th highest net out-flow for the day. SPDR Gold Trust traded up $2.15 for the day and closed at $128.23

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

The company has a market cap of $35,900.00 and a PE ratio of -14.74.

A number of hedge funds have recently modified their holdings of GLD. CI Investments Inc. lifted its position in 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 purchasing an additional 2,449,200 shares during the period. First Eagle Investment Management LLC lifted its position in 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 purchasing an additional 928,321 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position 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 purchasing an additional 835,900 shares during the period. Quantitative Investment Management LLC lifted its position 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 purchasing an additional 725,800 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in SPDR Gold Trust by 106.0% in the third quarter. Point72 Asset Management L.P. now owns 24,000 shares of the exchange traded fund’s stock worth $2,918,000 after purchasing an additional 424,000 shares during the period.

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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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