Paul R. Ried Financial Group LLC Has $3.03 Million Stock Position in SPDR Gold MiniShares Trust $GLDM

Paul R. Ried Financial Group LLC reduced its position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 16.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 32,655 shares of the company’s stock after selling 6,619 shares during the quarter. SPDR Gold MiniShares Trust makes up 1.4% of Paul R. Ried Financial Group LLC’s investment portfolio, making the stock its 14th largest holding. Paul R. Ried Financial Group LLC’s holdings in SPDR Gold MiniShares Trust were worth $3,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLDM. Wells Fargo & Company MN raised its holdings 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 worth $675,594,000 after acquiring an additional 2,785,608 shares during the period. Morgan Stanley boosted its holdings in SPDR Gold MiniShares Trust by 22.6% during the fourth quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock valued at $901,685,000 after acquiring an additional 1,943,672 shares during the period. Bank of America Corp DE grew its position 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 valued at $563,230,000 after purchasing an additional 1,636,398 shares during the last quarter. Payden & Rygel acquired a new stake in shares of SPDR Gold MiniShares Trust in the fourth quarter valued at about $110,981,000. Finally, Resona Asset Management Co. Ltd. increased its stake in shares of SPDR Gold MiniShares Trust by 45.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 3,236,300 shares of the company’s stock worth $289,066,000 after purchasing an additional 1,006,700 shares during the period.

SPDR Gold MiniShares Trust Trading Down 0.2%

SPDR Gold MiniShares Trust stock opened at $79.27 on Tuesday. SPDR Gold MiniShares Trust has a 52 week low of $64.71 and a 52 week high of $109.74. The business’s 50-day simple moving average is $84.60 and its 200-day simple moving average is $91.50.

Trending Headlines about SPDR Gold MiniShares Trust

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

• Positive Sentiment: Gold is being supported by continued physical demand, especially in China, along with central bank buying, which could help stabilize prices. Gold Edges Higher; Physical Demand Continues to Support
• Positive Sentiment: Sprott’s Paul Wong said gold looks “massively oversold” and could form a cyclical bottom before September, with the debasement trade still intact as a longer-term bullish theme. Gold is oversold, the debasement trade is still on, and the pressure is building – Sprott’s Paul Wong
• Positive Sentiment: Geopolitical risk and Middle East tensions are still seen as a source of safe-haven demand for gold, even as rate pressures dominate near term. Gold (XAUUSD) & Silver Price Forecast: Middle East Risks Support Gold Is a Breakout Coming?
• Neutral Sentiment: Gold is consolidating as traders weigh whether rising oil prices will lift inflation and change the Federal Reserve outlook, leaving the next move uncertain. Gold (XAUUSD) Price Forecast: Gold Consolidates as Oil Clouds Fed Outlook
• Negative Sentiment: Multiple market updates said higher Treasury yields, a stronger dollar, and higher-for-longer Fed expectations are pressuring gold, which is the biggest near-term headwind for GLDM. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Remains Stuck Near $4000 As Treasury Yields Rise
• Negative Sentiment: Analysts also warned that interest rates remain the key driver for precious metals, with gold facing downside risk despite Middle East escalation. Despite Middle East escalation, interest rates remain the key price driver for gold and silver – StoneX
• Negative Sentiment: Late-Sunday and Monday updates also described gold and silver as facing bearish momentum near support as rate expectations and oil-related inflation concerns weighed on sentiment. Gold Falls Amid Higher-For-Longer Interest-Rate Expectations

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.