Bangor Savings Bank lowered its stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,007 shares of the company’s stock after selling 9,398 shares during the quarter. SPDR Gold MiniShares Trust makes up 2.9% of Bangor Savings Bank’s investment portfolio, making the stock its 12th largest holding. Bangor Savings Bank owned about 0.12% of SPDR Gold MiniShares Trust worth $37,721,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Silver Oak Securities Incorporated boosted its holdings in shares of SPDR Gold MiniShares Trust by 0.7% in the first quarter. Silver Oak Securities Incorporated now owns 14,763 shares of the company’s stock worth $1,368,000 after buying an additional 108 shares during the period. Absolute Capital Management LLC raised its holdings in shares of SPDR Gold MiniShares Trust by 2.3% during the fourth quarter. Absolute Capital Management LLC now owns 4,956 shares of the company’s stock valued at $423,000 after acquiring an additional 112 shares during the period. Resurgent Financial Advisors LLC lifted its position in shares of SPDR Gold MiniShares Trust by 3.9% in the 4th quarter. Resurgent Financial Advisors LLC now owns 3,822 shares of the company’s stock valued at $326,000 after acquiring an additional 145 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of SPDR Gold MiniShares Trust by 1.2% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 13,601 shares of the company’s stock valued at $1,261,000 after acquiring an additional 157 shares in the last quarter. Finally, Beacon Financial Advisory LLC boosted its stake in SPDR Gold MiniShares Trust by 3.6% in the 2nd quarter. Beacon Financial Advisory LLC now owns 4,658 shares of the company’s stock worth $370,000 after purchasing an additional 163 shares during the period.
SPDR Gold MiniShares Trust Trading Up 0.7%
NYSEARCA GLDM traded up $0.55 on Tuesday, hitting $82.45. 3,319,848 shares of the stock were exchanged, compared to its average volume of 6,882,409. The company’s 50-day moving average price is $85.66 and its two-hundred day moving average price is $86.85. SPDR Gold MiniShares Trust has a 52-week low of $77.50 and a 52-week high of $109.74.
Key SPDR Gold MiniShares Trust News
- Positive Sentiment: Gold and silver moved higher as Treasury yields eased from multi-decade highs and the U.S. dollar retreated. Those conditions reduce the opportunity cost of holding non-yielding gold and support GLDM. Metals rise as oil steadies, yields pull back from 24-year highs
- Positive Sentiment: Gold found technical support near $4,103-$4,104, raising the possibility of a short-term bounce. A sustained recovery could provide a near-term catalyst for GLDM, although the broader trend remains bearish. Gold price forecast: $4,104 support puts bears on notice
- Positive Sentiment: Central banks added 39 net tonnes of gold in August, led by China, Uzbekistan and Poland. Continued official-sector buying provides a structural demand base for gold and is supportive of GLDM. Central banks add 39 net tonnes of gold in August
- Neutral Sentiment: Central banks continue to view gold as a strategic reserve asset amid geopolitical uncertainty, sovereign-debt concerns and reduced confidence in traditional reserve currencies. Record bullion flows from Russia through Hong Kong to China also underscore shifting global demand patterns. Central banks find new reasons to increase official gold reserves
- Neutral Sentiment: Proposals to tokenize gold and the launch of new London gold futures could broaden market access, liquidity and the metal’s investment utility over time, though the immediate effect on GLDM is uncertain. Tokenization could unlock gold’s utility
- Negative Sentiment: Long-term Treasury yields remain near multi-decade highs, with the 10-year yield around 5.27%, while markets still see some risk of a December Fed hike. Higher income available from bonds and cash competes directly with GLDM. Yields still control as gold bounces
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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