Nwam LLC increased its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM – Free Report) by 93.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 30,743 shares of the company’s stock after buying an additional 14,860 shares during the period. Nwam LLC’s holdings in SPDR Gold MiniShares Trust were worth $2,442,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in SPDR Gold MiniShares Trust by 1.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,594,406 shares of the company’s stock worth $1,723,515,000 after acquiring an additional 206,914 shares during the period. Morgan Stanley grew its stake in SPDR Gold MiniShares Trust by 22.6% in the 4th quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock valued at $901,685,000 after purchasing an additional 1,943,672 shares during the period. Wells Fargo & Company MN grew its stake in SPDR Gold MiniShares Trust by 54.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock valued at $675,594,000 after purchasing an additional 2,785,608 shares during the period. Evoke Wealth LLC increased its position in shares of SPDR Gold MiniShares Trust by 1.7% during 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. Finally, Bank of America Corp DE increased its position in shares of SPDR Gold MiniShares Trust by 28.6% during 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.
SPDR Gold MiniShares Trust Trading Down 2.9%
NYSEARCA GLDM opened at $85.59 on Wednesday. SPDR Gold MiniShares Trust has a one year low of $68.88 and a one year high of $109.74. The business’s fifty day moving average is $83.41 and its 200-day moving average is $89.53.
SPDR Gold MiniShares Trust News Roundup
- 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
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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