SPDR Gold Trust (NYSE:GLD) Offering 239 Million More Shares

SPDR Gold Trust (NYSE:GLD) has filed with the SEC for a follow-on offering of 239.3 million shares, a huge 57.5 percent increase in shares of the gold ETF.

Shares available now are 416.4 million, and after the offering, would increase to 655.7 million.

This could temporarily dilute the share value in the company, but the extraordinary demand for gold should help balance that off and overall increase the value of the company, and it shouldn't take long for the added number of shares to retain and increase in value.

SPDR ended Thursday session at $118.69, up $0.22, or 0.19 percent.