Secure Asset Management LLC bought a new position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 102,922 shares of the company’s stock, valued at approximately $8,174,000. SPDR Gold MiniShares Trust accounts for about 1.2% of Secure Asset Management LLC’s portfolio, making the stock its 19th largest position.
Several other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. grew its position in shares of SPDR Gold MiniShares Trust by 1.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,594,406 shares of the company’s stock valued at $1,723,515,000 after purchasing an additional 206,914 shares in the last quarter. Morgan Stanley raised its position in shares of SPDR Gold MiniShares Trust by 22.6% in the fourth quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock worth $901,685,000 after buying an additional 1,943,672 shares in the last quarter. Wells Fargo & Company MN raised 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 worth $675,594,000 after buying an additional 2,785,608 shares in the last quarter. Evoke Wealth LLC raised its position in shares of SPDR Gold MiniShares Trust by 1.7% in the fourth quarter. Evoke Wealth LLC now owns 7,374,785 shares of the company’s stock worth $629,586,000 after buying an additional 123,123 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake 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 buying an additional 1,636,398 shares during the period.
SPDR Gold MiniShares Trust Stock Performance
SPDR Gold MiniShares Trust stock opened at $85.59 on Wednesday. SPDR Gold MiniShares Trust has a 52 week low of $68.88 and a 52 week high of $109.74. The business has a 50-day simple moving average of $83.41 and a 200 day simple moving average of $89.53.
Trending Headlines about SPDR Gold MiniShares Trust
- Positive Sentiment: Longer term, Saxo Bank said gold remains supported by commodity-driven inflation, while State Street ETF flows indicate investors continue using gold as a hedge alongside U.S. large-cap equity exposure. Long-term gold price remains supported by commodity-led inflation Investors Are Balancing S&P 500 Growth With Gold Hedges
- Positive Sentiment: Julius Baer said increased U.S. Treasury debt buybacks could weaken the dollar and revive concerns about fiscal deterioration, potentially supporting gold over the longer term. Treasury’s ramped-up bond buybacks soften the U.S. dollar and boost the gold price
- Neutral Sentiment: Renewed U.S.-Iran and Gulf tensions are providing some safe-haven demand, but the resulting oil-price surge is also lifting inflation concerns, bond yields and expectations for tighter monetary policy. Gold and Silver Price Forecast: Hawkish Fed Meets Iran Risk as Jobs Data Looms
- Negative Sentiment: September Federal Reserve rate-hike odds held near 66% to 70% after a hawkish policy outlook. Rising global yields and a stronger dollar pressured gold and, by extension, GLDM. Gold tests $4,311 support as Fed-hike odds hold near 66%
- Negative Sentiment: Gold fell through its 20-day and 100-day moving averages and tested support near $4,311-$4,350. Analysts warned that a sustained break could expose gold to a pullback toward approximately $4,215, signaling additional downside risk for GLDM. Gold price at risk of pullback to $4,215
- Negative Sentiment: Reports that gold ETF inflows reversed after Kevin Warsh’s hawkish remarks suggest profit-taking and weaker near-term investor demand may be amplifying GLDM’s decline. Gold ETF Inflows Reverse Course as Warsh’s Hawkish Speech Crushes GLDM’s Summer Rally
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.
Read More
- Five stocks we like better than SPDR Gold MiniShares Trust
- Dutch Bros Sell-Off Creates a Growth Opportunity
- NVIDIA’s MediaTek Bet Shows How It Plans to Defend Its AI Moat
- Is Abercrombie & Fitch’s Hot Streak Just Getting Started?
- Medtronic’s Stars Are Aligning for a Price Recovery
Want to see what other hedge funds are holding GLDM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report).
Receive News & Ratings for SPDR Gold MiniShares Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR Gold MiniShares Trust and related companies with MarketBeat.com's FREE daily email newsletter.
