Headlands Technologies LLC acquired a new position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,269 shares of the company’s stock, valued at approximately $2,483,000.
Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of SPDR Gold MiniShares Trust by 288.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock worth $25,000 after buying an additional 199 shares in the last quarter. HHM Wealth Advisors LLC increased its position in shares of SPDR Gold MiniShares Trust by 236.7% during the first quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock valued at $28,000 after acquiring an additional 213 shares during the last quarter. Godfrey Financial Associates Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust during the fourth quarter valued at approximately $26,000. Root Financial Partners LLC lifted its holdings in SPDR Gold MiniShares Trust by 548.2% during the fourth quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock worth $31,000 after acquiring an additional 307 shares during the period. Finally, Gould Capital LLC lifted its holdings in SPDR Gold MiniShares Trust by 377.8% during the third quarter. Gould Capital LLC now owns 516 shares of the company’s stock worth $39,000 after acquiring an additional 408 shares during the period.
SPDR Gold MiniShares Trust Price Performance
GLDM stock opened at $88.20 on Monday. SPDR Gold MiniShares Trust has a 1-year low of $67.65 and a 1-year high of $109.74. The stock’s fifty day simple moving average is $83.22 and its two-hundred day simple moving average is $89.71.
Key Stories Impacting SPDR Gold MiniShares Trust
- Positive Sentiment: Longer term, analysts remain constructive on gold because rising U.S. government debt, potential currency debasement and de-dollarization are encouraging investors and foreign central banks to hold physical gold. Some forecasts see continued upside if fiscal pressures persist. Gold’s renewed momentum is sending a warning about America’s $40 trillion debt
- Positive Sentiment: Despite the recent correction, gold has gained roughly 15% since June, and technical analysts say support near $4,500-$4,527 could allow another advance toward the $4,774-$4,800 area if it holds. Gold Price Tests $4,527 Support With $4,774 Target in Play
- Neutral Sentiment: Former Fed President Jim Bullard said policymakers are divided, leaving uncertainty over whether the next decision will be a rate hold or a more hawkish pause. The debate could keep gold volatile around upcoming Fed communications. Gold is on the radar screen and the Fed is split down the middle
- Negative Sentiment: Fed Chair Kevin Warsh emphasized that inflation remains a greater concern than a slowing labor market, reviving expectations for a possible September rate hike. Higher-rate expectations and a firmer dollar reduce gold’s appeal because the metal does not generate income. Gold prices drop as Warsh says inflation is a bigger concern
- Negative Sentiment: Gold fell about $235 over four sessions and broke below its 200-day moving average as the dollar strengthened. Profit-taking after a powerful rally and weaker short-term inflation expectations added to selling pressure. Gold price breaks 200-day moving average as rate-hike bets rise
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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