SPDR Gold MiniShares Trust $GLDM Shares Sold by Gradient Investments LLC

Gradient Investments LLC lowered its stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 13.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,313,275 shares of the company’s stock after selling 204,444 shares during the period. SPDR Gold MiniShares Trust makes up 1.5% of Gradient Investments LLC’s holdings, making the stock its 12th biggest holding. Gradient Investments LLC’s holdings in SPDR Gold MiniShares Trust were worth $107,925,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of GLDM. PNC Financial Services Group Inc. increased its holdings in shares of SPDR Gold MiniShares Trust by 288.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock valued at $25,000 after acquiring an additional 199 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in SPDR Gold MiniShares Trust by 236.7% in the first quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock worth $28,000 after purchasing an additional 213 shares during the period. Evergreen Advisors LLC bought a new stake in SPDR Gold MiniShares Trust during the first quarter valued at $49,000. First Bancorp Inc ME acquired a new stake in shares of SPDR Gold MiniShares Trust during the second quarter worth $51,000. Finally, Basepoint Wealth LLC bought a new position in shares of SPDR Gold MiniShares Trust in the 1st quarter worth about $60,000.

SPDR Gold MiniShares Trust Price Performance

Shares of NYSEARCA:GLDM traded up $0.65 during trading on Thursday, reaching $81.76. 4,433,979 shares of the company’s stock traded hands, compared to its average volume of 6,851,117. The company has a 50 day moving average of $85.74 and a 200-day moving average of $86.68. SPDR Gold MiniShares Trust has a 12 month low of $77.50 and a 12 month high of $109.74.

Key Headlines Impacting SPDR Gold MiniShares Trust

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

• Positive Sentiment: China’s central bank purchased 21 tonnes of gold in September, extending its buying streak to 23 consecutive months. Continued central-bank accumulation provides an important long-term demand floor for gold and supports GLDM. China’s central bank buys 21 tonnes of gold in September
• Positive Sentiment: Analysts cited longer-term support from central-bank purchases, portfolio diversification and potential changes in interest-rate policy, arguing that gold’s recent decline could create an opportunity for investors with a long time horizon. Gold ETF Down 13% in Six Months
• Neutral Sentiment: Commentator Peter Schiff maintained a bullish long-term view of gold, saying rising yields could eventually expose fiscal and housing vulnerabilities. His comments provide a contrarian argument but do not offset the current rate-driven selling pressure. Peter Schiff says rising yields are bullish for gold
• Negative Sentiment: The Federal Reserve signaled that another rate increase may still be possible. Fed minutes, stronger-than-expected jobless-claims data and elevated Treasury yields have increased the opportunity cost of holding non-yielding gold, weighing on GLDM. Gold falls to a two-month low as Fed signals another hike
• Negative Sentiment: A stronger U.S. dollar and rising bond yields have pushed gold toward major technical support near $4,100 per ounce. Analysts warn that a break below that level could extend the correction and pressure GLDM further. Gold and silver price forecast

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.