Cerity Partners LLC trimmed its position in SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,181,571 shares of the company’s stock after selling 21,687 shares during the quarter. Cerity Partners LLC owned about 0.37% of SPDR Gold MiniShares Trust worth $100,880,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Evoke Wealth LLC boosted its holdings in SPDR Gold MiniShares Trust by 1.7% in the 4th quarter. Evoke Wealth LLC now owns 7,374,785 shares of the company’s stock valued at $629,586,000 after purchasing an additional 123,123 shares during the last quarter. Bank of America Corp DE boosted its holdings in SPDR Gold MiniShares Trust by 28.6% in the 3rd 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. UBS Group AG boosted its holdings in SPDR Gold MiniShares Trust by 2.9% in the 4th quarter. UBS Group AG now owns 3,412,428 shares of the company’s stock valued at $291,319,000 after purchasing an additional 96,624 shares during the last quarter. State Street Corp boosted its holdings in SPDR Gold MiniShares Trust by 0.3% in the 2nd quarter. State Street Corp now owns 2,695,268 shares of the company’s stock valued at $176,594,000 after purchasing an additional 8,380 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in SPDR Gold MiniShares Trust by 9.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,667,185 shares of the company’s stock valued at $203,919,000 after purchasing an additional 237,644 shares during the last quarter.
SPDR Gold MiniShares Trust Trading Down 1.6%
NYSEARCA:GLDM opened at $84.26 on Wednesday. The company’s 50-day moving average is $91.42 and its two-hundred day moving average is $92.16. SPDR Gold MiniShares Trust has a 1-year low of $64.46 and a 1-year high of $109.74.
SPDR Gold MiniShares Trust News Summary
- Negative Sentiment: Gold has broken below key technical levels, including the 200-day moving average, with analysts warning of further downside and potential tests of lower support. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds After Breakdown
- Negative Sentiment: Broader weakness in precious metals, including platinum, palladium and silver, suggests the selloff is not isolated to gold and reflects weaker sentiment across the sector. Platinum, palladium extend losses as Bank of America maintains bullish year-end price outlook
- Negative Sentiment: Stronger-than-expected U.S. economic data and rising Fed rate-hike expectations are pressuring gold by supporting the dollar and Treasury yields, reducing gold’s appeal as a non-yielding asset. Gold News: Fed Rate Hike Expectations Put Gold Market Under Pressure
- Negative Sentiment: Recent reports say gold continues to struggle to attract buyers as markets price in firmer rates and less near-term safe-haven demand, reinforcing the bearish tone. Gold price continues to struggle as U.S. Existing Home Sales rise 3.2% in May
- Neutral Sentiment: Some analysts still see a longer-term bullish case for gold, helped by central-bank buying such as China’s continued reserve accumulation, but these factors are not offsetting the current technical and macro pressure. China increases gold reserves by 9.95 tonnes in May for 19th straight month of purchases
- Neutral Sentiment: Gold is still drawing some dip-buying and support from geopolitical uncertainty, but that has only partially stabilized prices rather than reversed the downtrend. Gold holds near $4,330 as oil pares Iran-Israel risk premium – Kitco PM Report
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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