Abound Financial LLC trimmed its position in SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 66.2% in the 4th quarter, Holdings Channel reports. The firm owned 35,673 shares of the company’s stock after selling 69,930 shares during the quarter. SPDR Gold MiniShares Trust accounts for 0.7% of Abound Financial LLC’s holdings, making the stock its 25th largest position. Abound Financial LLC’s holdings in SPDR Gold MiniShares Trust were worth $3,045,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Godfrey Financial Associates Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust in the fourth quarter worth $26,000. Accredited Wealth Management LLC grew its position in SPDR Gold MiniShares Trust by 174.4% during the third quarter. Accredited Wealth Management LLC now owns 343 shares of the company’s stock worth $26,000 after buying an additional 218 shares in the last quarter. Root Financial Partners LLC grew its position in SPDR Gold MiniShares Trust by 548.2% during the fourth quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock worth $31,000 after buying an additional 307 shares in the last quarter. Networth Advisors LLC bought a new position in SPDR Gold MiniShares Trust in the 4th quarter worth about $33,000. Finally, Gould Capital LLC increased its stake in SPDR Gold MiniShares Trust by 377.8% in the 3rd quarter. Gould Capital LLC now owns 516 shares of the company’s stock worth $39,000 after acquiring an additional 408 shares during the last quarter.
SPDR Gold MiniShares Trust Stock Up 2.6%
NYSEARCA:GLDM opened at $85.51 on Tuesday. The business’s 50-day moving average price is $90.70 and its two-hundred day moving average price is $92.22. SPDR Gold MiniShares Trust has a twelve month low of $64.46 and a twelve month high of $109.74.
Key Headlines Impacting SPDR Gold MiniShares Trust
- Positive Sentiment: Gold rose sharply as the Hormuz deal and broader Middle East de-escalation reduced safe-haven uncertainty, while weaker oil prices helped cool inflation fears and support gold demand. Gold clears $4,300 as Hormuz deal cuts oil, yield pressure – Kitco PM Report
- Positive Sentiment: Comex gold settled 2.7% higher and silver gained nearly 3.3%, signaling strong momentum in precious metals that directly supports GLDM. Comex Gold Settles 2.68% Higher at $4328.00
- Positive Sentiment: Analysts said the Iran-U.S. deal weakened the dollar and increased hopes for Federal Reserve easing, both of which are supportive for gold prices and gold-backed ETFs. Gold (XAUUSD) Price Forecast: Gold Rally Builds as Iran Deal Cuts Rate Hike Bets
- Positive Sentiment: Gold held near session highs after weak New York manufacturing data and rising input prices reinforced the case for easier policy and stronger precious-metals demand. Gold prices holding near session highs as Empire State Survey falls to 5.7 in June
- Neutral Sentiment: Some reports noted that while the rally is strong, inflation and rate-hike expectations could still limit further upside if markets reassess Fed policy. Gold and silver rally after Iran-U.S. deal, but face headwinds from rate hike expectations – Heraeus
SPDR Gold MiniShares Trust Company 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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