Modern Wealth Management LLC raised its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 2,805.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 112,332 shares of the company’s stock after buying an additional 108,466 shares during the quarter. Modern Wealth Management LLC’s holdings in SPDR Gold MiniShares Trust were worth $10,593,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in GLDM. Silver Oak Securities Incorporated increased its holdings in shares of SPDR Gold MiniShares Trust by 0.7% during the first quarter. Silver Oak Securities Incorporated now owns 14,763 shares of the company’s stock valued at $1,368,000 after acquiring an additional 108 shares in the last quarter. Verus Capital Partners LLC boosted its stake in SPDR Gold MiniShares Trust by 1.1% in the 4th quarter. Verus Capital Partners LLC now owns 10,046 shares of the company’s stock worth $858,000 after purchasing an additional 111 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in SPDR Gold MiniShares Trust by 0.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 14,147 shares of the company’s stock worth $1,208,000 after purchasing an additional 112 shares in the last quarter. Absolute Capital Management LLC boosted its stake in SPDR Gold MiniShares Trust by 2.3% in the 4th quarter. Absolute Capital Management LLC now owns 4,956 shares of the company’s stock worth $423,000 after purchasing an additional 112 shares in the last quarter. Finally, One Charles Private Wealth Services LLC grew its position in SPDR Gold MiniShares Trust by 0.5% during the 4th quarter. One Charles Private Wealth Services LLC now owns 25,976 shares of the company’s stock worth $2,218,000 after purchasing an additional 120 shares during the last quarter.
SPDR Gold MiniShares Trust Stock Performance
Shares of SPDR Gold MiniShares Trust stock opened at $80.11 on Friday. SPDR Gold MiniShares Trust has a 12-month low of $64.71 and a 12-month high of $109.74. The firm’s 50 day simple moving average is $83.89 and its two-hundred day simple moving average is $91.40.
Key Headlines Impacting SPDR Gold MiniShares Trust
- Positive Sentiment: Some analysts and investors still view the recent decline as healthy profit-taking rather than a trend break, arguing that gold is holding important support and that retail demand has not capitulated. Retail investors remain confident in gold despite recent selling as healthy profit-taking replaces panic, says EverBank’s Gaffney
- Positive Sentiment: Longer-term bullish commentary remains supportive, with prominent investors saying the gold bull market may still be in its early stages and that central-bank buying continues to underpin demand. John Paulson says we are in the early stages of a long-term bull market for gold
- Neutral Sentiment: Gold is still trading around key technical support levels, and chart watchers say a sustained move above resistance near the low-$4,200s would be needed to confirm a broader bullish reversal. Gold (XAU/USD) Price Forecast: Can the Bullish Reversal Survive This Pullback?
- Negative Sentiment: Near-term bullion prices weakened as better-than-expected U.S. jobless claims, rising yields, and a stronger dollar reduced the appeal of gold as a non-yielding asset. Spot gold falls to session lows after U.S. weekly jobless claims drop to 187k
- Negative Sentiment: Late-day trading reports also show gold and silver falling sharply as higher Treasury yields and a stronger U.S. dollar outweighed safe-haven demand, a move that is directly negative for GLDM. Gold falls as oil spike, higher yields pressure metals – Kitco PM Report
About SPDR Gold MiniShares Trust
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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