SPDR Gold Shares (NYSEARCA:GLD) had its target price increased by stock analysts at Standpoint Research to $28,000.00 in a note issued to investors on Thursday.

Shares of SPDR Gold Shares (NYSEARCA:GLD) traded down $1.19 during mid-day trading on Thursday, hitting $118.88. 821,964 shares of the stock traded hands. SPDR Gold Shares has a 1-year low of $107.00 and a 1-year high of $128.32.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of SPDR Gold Shares by 9.4% during the second quarter. BlackRock Inc. now owns 18,604,275 shares of the exchange traded fund’s stock valued at $2,195,677,000 after purchasing an additional 1,600,262 shares during the period. First Eagle Investment Management LLC raised its stake in shares of SPDR Gold Shares by 17.3% during the third quarter. First Eagle Investment Management LLC now owns 6,299,803 shares of the exchange traded fund’s stock valued at $765,930,000 after purchasing an additional 928,321 shares during the period. FMR LLC raised its stake in shares of SPDR Gold Shares by 49.6% during the second quarter. FMR LLC now owns 4,742,502 shares of the exchange traded fund’s stock valued at $559,710,000 after purchasing an additional 1,572,655 shares during the period. CI Investments Inc. raised its stake in shares of SPDR Gold Shares by 442.2% during the third quarter. CI Investments Inc. now owns 1,449,429 shares of the exchange traded fund’s stock valued at $176,222,000 after purchasing an additional 1,182,100 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SPDR Gold Shares by 3.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,437,716 shares of the exchange traded fund’s stock valued at $174,798,000 after purchasing an additional 50,167 shares during the period.

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SPDR Gold Shares Company Profile

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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