Investors Buy Large Volume of Call Options on SPDR Gold Shares (NYSEARCA:GLD)

SPDR Gold Shares (NYSEARCA:GLD) was the recipient of some unusual options trading on Tuesday. Traders bought 225,741 call options on the stock. This is an increase of approximately 24% compared to the typical daily volume of 182,314 call options.

SPDR Gold Shares Stock Performance

Shares of GLD stock traded down $1.80 during trading hours on Tuesday, reaching $242.37. 7,408,536 shares of the company’s stock were exchanged, compared to its average volume of 7,049,320. SPDR Gold Shares has a 1 year low of $171.07 and a 1 year high of $247.37. The company’s 50 day moving average is $233.77 and its two-hundred day moving average is $222.58.

Hedge Funds Weigh In On SPDR Gold Shares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Triad Wealth Partners LLC bought a new stake in shares of SPDR Gold Shares during the 2nd quarter worth $25,000. Semmax Financial Advisors Inc. grew its position in shares of SPDR Gold Shares by 78.7% in the second quarter. Semmax Financial Advisors Inc. now owns 109 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 48 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in SPDR Gold Shares during the first quarter worth $26,000. Private Ocean LLC lifted its position in shares of SPDR Gold Shares by 155.1% in the 2nd quarter. Private Ocean LLC now owns 125 shares of the exchange traded fund’s stock worth $27,000 after acquiring an additional 76 shares during the period. Finally, Security National Bank acquired a new position in shares of SPDR Gold Shares in the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

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).