Standpoint Research Increases SPDR Gold Shares (GLD) Price Target to $28,000.00

SPDR Gold Shares (NYSEARCA:GLD) had its price objective upped by Standpoint Research to $28,000.00 in a research report issued on Thursday.

SPDR Gold Shares (NYSEARCA GLD) traded down $1.02 during trading on Thursday, hitting $119.05. 6,641,200 shares of the stock traded hands, compared to its average volume of 7,443,878. SPDR Gold Shares has a 52 week low of $107.00 and a 52 week high of $128.32.

Several institutional investors have recently added to or reduced their stakes in GLD. Chicago Partners Investment Group LLC boosted its stake in shares of SPDR Gold Shares by 179.0% in the third quarter. Chicago Partners Investment Group LLC now owns 1,116 shares of the exchange traded fund’s stock valued at $136,000 after purchasing an additional 716 shares during the period. Institutional & Family Asset Management LLC boosted its stake in shares of SPDR Gold Shares by 0.8% in the third quarter. Institutional & Family Asset Management LLC now owns 116,600 shares of the exchange traded fund’s stock valued at $14,176,000 after purchasing an additional 939 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of SPDR Gold Shares in the third quarter valued at $2,233,000. Truepoint Inc. boosted its stake in shares of SPDR Gold Shares by 2,551.0% in the third quarter. Truepoint Inc. now owns 116,960 shares of the exchange traded fund’s stock valued at $117,000 after purchasing an additional 112,548 shares during the period. Finally, Efficient Advisors LLC purchased a new position in shares of SPDR Gold Shares in the third quarter valued at $1,934,000.

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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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