SVRN Asset Management LLC bought a new position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 11,947 shares of the company’s stock, valued at approximately $1,020,000. SPDR Gold MiniShares Trust accounts for 0.8% of SVRN Asset Management LLC’s portfolio, making the stock its 20th biggest holding.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in SPDR Gold MiniShares Trust by 9.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 206,200 shares of the company’s stock valued at $17,603,000 after acquiring an additional 17,000 shares in the last quarter. Bright Financial Advisors Inc. increased its position in shares of SPDR Gold MiniShares Trust by 19.6% in the third quarter. Bright Financial Advisors Inc. now owns 82,834 shares of the company’s stock valued at $6,333,000 after buying an additional 13,558 shares in the last quarter. Financial Planning Hawaii Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust in the fourth quarter valued at approximately $2,816,000. Farther Finance Advisors LLC increased its position in shares of SPDR Gold MiniShares Trust by 17.4% in the fourth quarter. Farther Finance Advisors LLC now owns 635,706 shares of the company’s stock valued at $54,270,000 after buying an additional 94,239 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of SPDR Gold MiniShares Trust by 23.9% in the third quarter. Arete Wealth Advisors LLC now owns 57,034 shares of the company’s stock valued at $4,365,000 after buying an additional 10,994 shares in the last quarter.
SPDR Gold MiniShares Trust Stock Performance
SPDR Gold MiniShares Trust stock opened at $83.32 on Friday. SPDR Gold MiniShares Trust has a 12 month low of $64.46 and a 12 month high of $109.74. The business has a 50 day simple moving average of $90.84 and a 200-day simple moving average of $92.12.
SPDR Gold MiniShares Trust News Roundup
- Positive Sentiment: Gold and silver prices are firmer as U.S.-Iran deal hopes push oil lower, Treasury yields ease, and investors rotate back into precious metals. Precious metals firm as crude slides, stocks rise on U.S.-Iran talks – Kitco PM Report
- Positive Sentiment: Gold held the important $4,000 area and is attracting buyers as analysts look for signs the selloff may be bottoming. Gold holds key $4,000 support as analysts watch for signs of a bottom
- Positive Sentiment: Gold rebounded after a failed breakdown at support, with chart watchers saying the metal may be trying to stabilize. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
- Neutral Sentiment: Later-day reports said gold was steady near $4,200 as traders balanced softer inflation expectations against improving U.S. consumer sentiment, keeping the near-term outlook mixed. Spot gold hovers near $4,200/oz after preliminary Consumer Sentiment rises to 48.9, one-year inflation expectations dip to 4.6%
- Negative Sentiment: Several reports also warned that gold remains under pressure from higher Fed rate expectations and signs of a deeper downtrend, which could continue to weigh on GLDM if bullion fails to hold support. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
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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