Pacific Excel Wealth Advisors Inc. Acquires Shares of 41,784 SPDR Gold MiniShares Trust $GLDM

Pacific Excel Wealth Advisors Inc. acquired a new stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,784 shares of the company’s stock, valued at approximately $3,318,000. SPDR Gold MiniShares Trust accounts for about 1.3% of Pacific Excel Wealth Advisors Inc.’s holdings, making the stock its 20th biggest position.

A number of other hedge funds have also recently modified their holdings of the stock. Silver Oak Securities Incorporated raised its position in SPDR Gold MiniShares Trust by 0.7% during the first quarter. Silver Oak Securities Incorporated now owns 14,763 shares of the company’s stock valued at $1,368,000 after acquiring an additional 108 shares in the last quarter. Verus Capital Partners LLC grew its position in SPDR Gold MiniShares Trust by 1.1% during the fourth quarter. Verus Capital Partners LLC now owns 10,046 shares of the company’s stock valued at $858,000 after buying an additional 111 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in SPDR Gold MiniShares Trust by 0.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 14,147 shares of the company’s stock valued at $1,208,000 after buying an additional 112 shares in the last quarter. Absolute Capital Management LLC increased its holdings in SPDR Gold MiniShares Trust by 2.3% in the fourth quarter. Absolute Capital Management LLC now owns 4,956 shares of the company’s stock valued at $423,000 after buying an additional 112 shares in the last quarter. Finally, One Charles Private Wealth Services LLC raised its position in shares of SPDR Gold MiniShares Trust by 0.5% in the fourth quarter. One Charles Private Wealth Services LLC now owns 25,976 shares of the company’s stock worth $2,218,000 after acquiring an additional 120 shares during the period.

SPDR Gold MiniShares Trust Trading Up 0.7%

Shares of SPDR Gold MiniShares Trust stock opened at $80.70 on Wednesday. The firm has a 50-day simple moving average of $82.42 and a two-hundred day simple moving average of $90.88. SPDR Gold MiniShares Trust has a fifty-two week low of $65.64 and a fifty-two week high of $109.74.

Key Stories Impacting SPDR Gold MiniShares Trust

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

• Positive Sentiment: Gold strengthened after June JOLTS job openings fell more than expected to 7.36 million. The softer labor-market data may reduce pressure on the Federal Reserve to maintain or raise interest rates, supporting non-yielding assets such as gold. Gold price catching a bid as JOLTS job openings drop to 7.36 million
• Positive Sentiment: Lower oil prices are easing inflation expectations, while some dollar weakness has helped lift gold and improve the outlook for GLDM. Gold moves higher as oil prices drop
• Positive Sentiment: The Bank of Korea began a long-term domestic gold-buying program, adding to broader central-bank demand that analysts view as an important floor for gold near $4,000 an ounce. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Chinese ETF demand, safe-haven buying ahead of the U.S. employment report and continuing geopolitical uncertainty are helping offset pressure from higher yields. Gold firms as Fed uncertainty and China ETF demand offset yield pressure
• Neutral Sentiment: Gold is holding above its 20-day moving average, with resistance near $4,166 and $4,203. A break above those levels could reinforce momentum for GLDM, but failure to break out would leave the metal range-bound. Gold price forecast: Can gold break above $4,203?
• Negative Sentiment: Higher real yields, firm long-term Treasury yields and persistent inflation are raising the opportunity cost of holding gold. Strong economic data could give the Fed more room to keep policy restrictive. Gold can recover despite higher real yields as rate pressures ease
• Negative Sentiment: Friday’s Nonfarm Payrolls report is the next major catalyst. Strong employment data could strengthen the dollar and revive rate-hike expectations, potentially weighing on gold and GLDM. Gold price forecast: Safe-haven demand grows ahead of NFP

SPDR Gold MiniShares Trust 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.