Traders Buy SPDR Gold Trust (GLD) on Weakness

Investors bought shares of SPDR Gold Trust (NYSEARCA:GLD) on weakness during trading on Friday. $184.67 million flowed into the stock on the tick-up and $120.94 million flowed out of the stock on the tick-down, for a money net flow of $63.73 million into the stock. Of all stocks tracked, SPDR Gold Trust had the 9th highest net in-flow for the day. SPDR Gold Trust traded down ($0.42) for the day and closed at $127.96

Separately, Standpoint Research boosted 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 $35,600.00 and a price-to-earnings ratio of -14.71.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flow Traders U.S. LLC grew its position in SPDR Gold Trust by 6,385.5% during the third 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. Chevy Chase Trust Holdings Inc. grew its position in SPDR Gold Trust by 42.1% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 7,410 shares of the exchange traded fund’s stock valued at $901,000 after buying an additional 2,195 shares during the period. Sterling Capital Management LLC bought a new stake in SPDR Gold Trust during the third quarter valued at approximately $262,000. Westside Investment Management Inc. grew its position in SPDR Gold Trust by 4.7% during the third quarter. Westside Investment Management Inc. now owns 25,596 shares of the exchange traded fund’s stock valued at $3,125,000 after buying an additional 1,159 shares during the period. Finally, Waverton Investment Management Ltd grew its position in SPDR Gold Trust by 4.3% during the fourth quarter. Waverton Investment Management Ltd now owns 25,741 shares of the exchange traded fund’s stock valued at $3,183,000 after buying an additional 1,065 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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