WealthPoint Financial LLC Reduces Stock Position in SPDR Gold MiniShares Trust $GLDM

WealthPoint Financial LLC cut its position in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 67.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,252 shares of the company’s stock after selling 10,889 shares during the period. WealthPoint Financial LLC’s holdings in SPDR Gold MiniShares Trust were worth $487,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GLDM. PNC Financial Services Group Inc. increased its holdings in 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 worth $25,000 after buying an additional 199 shares during the period. Godfrey Financial Associates Inc. purchased a new position in SPDR Gold MiniShares Trust during the 4th quarter worth approximately $26,000. HHM Wealth Advisors LLC lifted its stake in SPDR Gold MiniShares Trust by 236.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock valued at $28,000 after acquiring an additional 213 shares during the period. Root Financial Partners LLC lifted its stake in SPDR Gold MiniShares Trust by 548.2% during the 4th quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock valued at $31,000 after acquiring an additional 307 shares during the period. Finally, Networth Advisors LLC acquired a new stake in SPDR Gold MiniShares Trust during the 4th quarter valued at approximately $33,000.

SPDR Gold MiniShares Trust Price Performance

GLDM stock opened at $80.14 on Monday. SPDR Gold MiniShares Trust has a 12 month low of $65.13 and a 12 month high of $109.74. The firm’s fifty day simple moving average is $82.77 and its 200-day simple moving average is $91.04.

SPDR Gold MiniShares Trust News Roundup

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

• Positive Sentiment: Analysts increasingly view gold near $4,000 per ounce as an attractive value area, suggesting downside support for GLDM despite the Federal Reserve’s tightening bias. Gold has value at $4,000 as investors look beyond Fed hawkishness
• Positive Sentiment: The World Gold Council reported stronger central-bank gold buying in the second quarter, while resilient Asian demand supports the longer-term precious-metals outlook. World Gold Council Reports Strong Central Bank Buying
• Neutral Sentiment: Gold remains range-bound, broadly trading between $4,000 and $4,200, as investors await clearer signals on interest rates and Middle East developments. Resistance near $4,200 is limiting near-term upside. Gold Weekly Price Analysis
• Negative Sentiment: The 30-year Treasury yield tested levels last seen in 2007, increasing the opportunity cost of holding non-yielding gold and weighing on GLDM. Gold Pulls Back as Treasury Yields Test New Highs
• Negative Sentiment: Improved U.S. consumer sentiment and easing one-year inflation expectations contributed to gold trading near session lows, while the Fed’s hawkish hold continues to keep rate-cut expectations uncertain. Spot gold near session lows below $4,030

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.