Traders Buy SPDR Gold Shares (GLD) on Weakness
Traders bought shares of SPDR Gold Shares (NYSEARCA:GLD) on weakness during trading hours on Monday. $158.08 million flowed into the stock on the tick-up and $82.28 million flowed out of the stock on the tick-down, for a money net flow of $75.80 million into the stock. Of all equities tracked, SPDR Gold Shares had the 8th highest net in-flow for the day. SPDR Gold Shares traded down ($1.01) for the day and closed at $125.62
Institutional investors have recently made changes to their positions in the stock. Field & Main Bank bought a new stake in shares of SPDR Gold Shares during the 4th quarter valued at about $127,000. First Dallas Securities Inc. bought a new stake in shares of SPDR Gold Shares during the 4th quarter valued at about $133,000. Mandatum Life Insurance Co Ltd bought a new stake in shares of SPDR Gold Shares during the 4th quarter valued at about $133,000. SWS Partners bought a new stake in shares of SPDR Gold Shares during the 4th quarter valued at about $136,000. Finally, Contravisory Investment Management Inc. boosted its position in shares of SPDR Gold Shares by 76.3% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,132 shares of the exchange traded fund’s stock valued at $140,000 after purchasing an additional 490 shares in the last quarter.
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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