Public Employees Retirement System of Ohio purchased a new stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,985,600 shares of the company’s stock, valued at approximately $157,696,000. Public Employees Retirement System of Ohio owned about 0.58% of SPDR Gold MiniShares Trust at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in shares of SPDR Gold MiniShares Trust by 54.3% in the fourth quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock valued at $675,594,000 after acquiring an additional 2,785,608 shares during the last quarter. Morgan Stanley raised its holdings in SPDR Gold MiniShares Trust by 22.6% during the fourth quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock worth $901,685,000 after acquiring an additional 1,943,672 shares in the last quarter. Bank of America Corp DE boosted its position in SPDR Gold MiniShares Trust by 28.6% during the third quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock valued at $563,230,000 after purchasing an additional 1,636,398 shares during the last quarter. Regents of The University of California acquired a new position in SPDR Gold MiniShares Trust during the first quarter valued at approximately $133,351,000. Finally, Payden & Rygel bought a new position in SPDR Gold MiniShares Trust in the fourth quarter valued at approximately $110,981,000.
SPDR Gold MiniShares Trust News Roundup
Here are the key news stories impacting SPDR Gold MiniShares Trust this week:
- Positive Sentiment: Analysts at UBS said gold is a clear beneficiary of de-dollarization and could rise above $5,400 by next summer, citing U.S. fiscal challenges and continued central-bank demand. Gold is a clear beneficiary of de-dollarization
- Positive Sentiment: Strategists continue to see a durable long-term uptrend, arguing that rising sovereign debt could force currency debasement and support gold’s investment case. Some forecasts put gold at $5,000 by year-end or higher over time. The math is on gold’s side
- Positive Sentiment: Technical analysts say gold’s pullback is testing support near its 200-day moving average around $4,527. If that level holds, another advance toward roughly $4,774-$4,780 remains possible, supporting GLDM. Gold Price Tests $4,527 Support
- Neutral Sentiment: Gold is consolidating below resistance near $4,700 while markets await Federal Reserve signals and Kevin Warsh’s Jackson Hole comments. A break above $4,800 could restart the rally, while support near $4,500-$4,527 is being watched. Gold Price Faces $4,700 Resistance
- Negative Sentiment: Stronger-than-expected U.S. jobless-claims and economic data, along with sticky PCE inflation, have lifted Treasury yields and kept the possibility of additional Fed tightening alive. Higher yields and a firmer dollar can reduce demand for non-yielding gold. Gold steadies near $4,590
- Negative Sentiment: Gold’s sharp August rally has left the market technically overbought, increasing the risk of profit-taking or further volatility even as the broader bullish trend remains intact. Gold bulls still in control
SPDR Gold MiniShares Trust Stock Up 0.3%
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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