RM Financial Services LLC Purchases Shares of 112,169 SPDR Gold MiniShares Trust $GLDM

RM Financial Services LLC acquired a new position in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 112,169 shares of the company’s stock, valued at approximately $9,576,000. SPDR Gold MiniShares Trust makes up 8.5% of RM Financial Services LLC’s investment portfolio, making the stock its 2nd biggest holding.

Other institutional investors have also recently modified their holdings of the company. Mizuho Bank Ltd. purchased a new position in SPDR Gold MiniShares Trust in the 3rd quarter worth $137,763,000. Bank of America Corp DE increased its holdings in shares of SPDR Gold MiniShares Trust by 28.6% in the third quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock worth $563,230,000 after buying an additional 1,636,398 shares during the period. Payden & Rygel bought a new stake in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at about $110,981,000. Argos Wealth Advisors LLC bought a new stake in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at about $67,468,000. Finally, Goldman Sachs Group Inc. boosted its holdings in SPDR Gold MiniShares Trust by 1,874.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 789,755 shares of the company’s stock valued at $67,421,000 after acquiring an additional 749,763 shares during the period.

SPDR Gold MiniShares Trust Stock Performance

GLDM opened at $80.77 on Thursday. The stock’s 50 day simple moving average is $91.25 and its 200 day simple 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.

Key Stories Impacting SPDR Gold MiniShares Trust

Here are the key news stories impacting SPDR Gold MiniShares Trust this week:

• Neutral Sentiment: Some analysts still see long-term support for gold, citing central bank buying and the possibility that the broader bull market remains intact despite the recent correction.
• Negative Sentiment: Gold has broken below key technical levels, including the 200-day moving average and prior swing lows, signaling more downside risk and weakening near-term momentum. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Negative Sentiment: Hot U.S. CPI data reinforced expectations that the Federal Reserve may keep rates restrictive for longer, pressuring gold and related ETFs lower. Gold (XAUUSD) Price Forecast: Gold Price Tumbles as Hot CPI Reinforces Fed Rate Hike Path
• Negative Sentiment: Market commentary across multiple outlets says gold is likely to remain weak in the near term, with traders warning the selloff could continue if yields stay elevated and rate-hike odds 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.