LPL Financial LLC lessened its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,992,890 shares of the company’s stock after selling 28,641 shares during the period. LPL Financial LLC owned about 0.95% of SPDR Gold MiniShares Trust worth $255,503,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GLDM. Mizuho Bank Ltd. acquired a new position in shares of SPDR Gold MiniShares Trust during the 3rd quarter worth approximately $137,763,000. Bank of America Corp DE grew its position in shares of SPDR Gold MiniShares Trust by 28.6% during the 3rd quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock worth $563,230,000 after purchasing an additional 1,636,398 shares in the last quarter. Payden & Rygel acquired a new position in shares of SPDR Gold MiniShares Trust during the 4th quarter worth approximately $110,981,000. Argos Wealth Advisors LLC acquired a new position in shares of SPDR Gold MiniShares Trust during the 4th quarter worth approximately $67,468,000. Finally, Goldman Sachs Group Inc. grew its position in shares of SPDR Gold MiniShares Trust by 1,874.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 789,755 shares of the company’s stock worth $67,421,000 after purchasing an additional 749,763 shares in the last quarter.
Key Stories Impacting SPDR Gold MiniShares Trust
Here are the key news stories impacting SPDR Gold MiniShares Trust this week:
- Negative Sentiment: Gold has broken below key technical levels, including the 200-day moving average, with analysts warning of further downside and potential tests of lower support. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds After Breakdown
- Negative Sentiment: Broader weakness in precious metals, including platinum, palladium and silver, suggests the selloff is not isolated to gold and reflects weaker sentiment across the sector. Platinum, palladium extend losses as Bank of America maintains bullish year-end price outlook
- Negative Sentiment: Stronger-than-expected U.S. economic data and rising Fed rate-hike expectations are pressuring gold by supporting the dollar and Treasury yields, reducing gold’s appeal as a non-yielding asset. Gold News: Fed Rate Hike Expectations Put Gold Market Under Pressure
- Negative Sentiment: Recent reports say gold continues to struggle to attract buyers as markets price in firmer rates and less near-term safe-haven demand, reinforcing the bearish tone. Gold price continues to struggle as U.S. Existing Home Sales rise 3.2% in May
- Neutral Sentiment: Some analysts still see a longer-term bullish case for gold, helped by central-bank buying such as China’s continued reserve accumulation, but these factors are not offsetting the current technical and macro pressure. China increases gold reserves by 9.95 tonnes in May for 19th straight month of purchases
- Neutral Sentiment: Gold is still drawing some dip-buying and support from geopolitical uncertainty, but that has only partially stabilized prices rather than reversed the downtrend. Gold holds near $4,330 as oil pares Iran-Israel risk premium – Kitco PM Report
SPDR Gold MiniShares Trust Stock Performance
SPDR Gold MiniShares Trust Profile
The SPDR Gold MiniShares Trust (GLDM) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in London vaults. GLDM was launched on Jun 25, 2018 and is issued by State Street.
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