Quantum Financial Advisors LLC trimmed its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,254 shares of the company’s stock after selling 7,091 shares during the quarter. SPDR Gold MiniShares Trust comprises about 1.1% of Quantum Financial Advisors LLC’s portfolio, making the stock its 21st biggest position. Quantum Financial Advisors LLC’s holdings in SPDR Gold MiniShares Trust were worth $13,204,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. increased its holdings in SPDR Gold MiniShares Trust by 1.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,594,406 shares of the company’s stock worth $1,723,515,000 after purchasing an additional 206,914 shares in the last quarter. Morgan Stanley boosted its holdings in shares of SPDR Gold MiniShares Trust by 22.6% during the 4th quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock worth $901,685,000 after buying an additional 1,943,672 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of SPDR Gold MiniShares Trust by 54.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock worth $675,594,000 after buying an additional 2,785,608 shares during the period. Evoke Wealth LLC grew its position in shares of SPDR Gold MiniShares Trust by 1.7% during the 4th quarter. Evoke Wealth LLC now owns 7,374,785 shares of the company’s stock worth $629,586,000 after buying an additional 123,123 shares during the period. Finally, 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 buying an additional 1,636,398 shares during the period.
SPDR Gold MiniShares Trust Trading Up 2.3%
NYSEARCA:GLDM opened at $85.95 on Friday. The company has a fifty day moving average of $82.16 and a 200-day moving average of $90.75. SPDR Gold MiniShares Trust has a twelve month low of $65.64 and a twelve month high of $109.74.
More SPDR Gold MiniShares Trust News
- Positive Sentiment: A weak U.S. jobs report showing a loss of 23,000 positions in July increased expectations that the Federal Reserve may adopt a more dovish stance. Lower rate expectations, Treasury yields and the dollar generally support non-yielding gold. Gold prices surging higher as U.S. economy loses 23k jobs in July
- Positive Sentiment: Gold broke above a prolonged consolidation range after repeatedly testing support near $4,000 an ounce. Technical analysts see potential for additional gains toward major resistance around $4,382-$4,392 and possibly $4,494. Gold (XAU/USD) Price Forecast: Breakout Builds Toward Key Resistance
- Positive Sentiment: Central-bank demand remains supportive: the People’s Bank of China made its largest monthly gold purchase since 2023 and has now bought bullion for 21 consecutive months. Gold-backed ETFs also recorded net inflows in July after two months of withdrawals. PBOC boosts gold buying with largest monthly purchase since 2023
- Positive Sentiment: Investors are increasing bullish exposure, with traders reportedly spending about $180 million on gold call options. Analysts at BNP Paribas also see room for gold to reach $5,000 if pressure on the Fed contributes to further dollar weakness. Gold bugs spend $180 million betting all’s clear for metal as bond yields stall
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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