SPDR Gold Trust Sees Unusually High Options Volume (NYSEARCA:GLD)
SPDR Gold Trust (NYSEARCA:GLD) was the target of unusually large options trading on Wednesday. Traders purchased 73,509 call options on the company. This represents an increase of 130% compared to the average daily volume of 31,916 call options.
Hedge funds and other institutional investors have recently modified their holdings of the company. Blume Capital Management Inc. raised its stake in SPDR Gold Trust by 30.8% in the second quarter. Blume Capital Management Inc. now owns 850 shares of the exchange traded fund’s stock valued at $100,000 after buying an additional 200 shares in the last quarter. QCI Asset Management Inc. NY raised its stake in SPDR Gold Trust by 14.9% in the second quarter. QCI Asset Management Inc. NY now owns 1,155 shares of the exchange traded fund’s stock valued at $136,000 after buying an additional 150 shares in the last quarter. CI Global Investments Inc. purchased a new stake in SPDR Gold Trust during the second quarter valued at approximately $150,000. Cornerstone Advisory LLP purchased a new stake in SPDR Gold Trust during the second quarter valued at approximately $201,000. Finally, Wellesley Investment Partners LLC purchased a new stake in SPDR Gold Trust during the second quarter valued at approximately $202,000.
Shares of SPDR Gold Trust (GLD) opened at 122.79 on Friday. SPDR Gold Trust has a 12-month low of $107.00 and a 12-month high of $129.17. The company’s 50-day moving average price is $118.66 and its 200 day moving average price is $118.57.
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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