Assetmark Inc. lowered its position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 33.8% in the first quarter, Holdings Channel reports. The institutional investor owned 369,338 shares of the company’s stock after selling 188,397 shares during the period. Assetmark Inc.’s holdings in SPDR Gold MiniShares Trust were worth $34,234,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its holdings in SPDR Gold MiniShares Trust by 9.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 206,200 shares of the company’s stock worth $17,603,000 after acquiring an additional 17,000 shares during the period. Farther Finance Advisors LLC lifted its holdings in SPDR Gold MiniShares Trust by 17.4% in the fourth quarter. Farther Finance Advisors LLC now owns 635,706 shares of the company’s stock valued at $54,270,000 after acquiring an additional 94,239 shares during the period. AE Wealth Management LLC lifted its holdings in SPDR Gold MiniShares Trust by 37.0% in the fourth quarter. AE Wealth Management LLC now owns 330,650 shares of the company’s stock valued at $28,228,000 after acquiring an additional 89,313 shares during the period. Financial Planning Hawaii Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust during the 4th quarter worth $2,816,000. Finally, Forbes Financial Planning Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust during the 4th quarter worth $4,302,000.
SPDR Gold MiniShares Trust Stock Up 0.9%
NYSEARCA:GLDM opened at $79.45 on Friday. The firm’s fifty day simple moving average is $84.88 and its 200-day simple moving average is $91.50. SPDR Gold MiniShares Trust has a fifty-two week low of $64.71 and a fifty-two week high of $109.74.
Key Headlines Impacting SPDR Gold MiniShares Trust
- Positive Sentiment: Gold bounced toward session highs near $4,000 after better-than-expected University of Michigan consumer sentiment data, while one-year inflation expectations eased, helping bullion recover from earlier losses. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
- Positive Sentiment: Some analysts say the broader gold bull trend is still intact despite the pullback, with commentary suggesting the correction may be nearing completion and that central bank buying remains a long-term support factor. Gold’s Pullback Doesn’t Mean the Bull Market Is Over Gold Rises; Central Bank Buying Likely to Remain Structural Driver
- Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and options in the gold-fund space, but this is unlikely to be a major near-term driver for GLDM. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
- Negative Sentiment: Gold remains under pressure overall, with multiple reports citing weak technicals, stronger Treasury yields, a firmer U.S. dollar, and better economic data as reasons traders are pressing the metal below support near $4,000. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
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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Want to see what other hedge funds are holding GLDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report).
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