Noble Wealth Partners LLC Makes New $1.29 Million Investment in SPDR Gold MiniShares Trust $GLDM

Noble Wealth Partners LLC acquired a new stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,207 shares of the company’s stock, valued at approximately $1,287,000. SPDR Gold MiniShares Trust accounts for approximately 1.1% of Noble Wealth Partners LLC’s holdings, making the stock its 27th largest holding.

A number of other hedge funds also recently made changes to their positions in GLDM. Silver Oak Securities Incorporated increased its holdings in shares of SPDR Gold MiniShares Trust by 0.7% during the 1st quarter. Silver Oak Securities Incorporated now owns 14,763 shares of the company’s stock worth $1,368,000 after acquiring an additional 108 shares during the last quarter. Verus Capital Partners LLC lifted its holdings in SPDR Gold MiniShares Trust by 1.1% during the 4th quarter. Verus Capital Partners LLC now owns 10,046 shares of the company’s stock valued at $858,000 after purchasing an additional 111 shares during the last quarter. Absolute Capital Management LLC boosted its position in SPDR Gold MiniShares Trust by 2.3% during the fourth quarter. Absolute Capital Management LLC now owns 4,956 shares of the company’s stock worth $423,000 after purchasing an additional 112 shares during the period. One Charles Private Wealth Services LLC boosted its position in SPDR Gold MiniShares Trust by 0.5% during the fourth quarter. One Charles Private Wealth Services LLC now owns 25,976 shares of the company’s stock worth $2,218,000 after purchasing an additional 120 shares during the period. Finally, Waterloo Capital L.P. boosted its position in SPDR Gold MiniShares Trust by 0.9% during the fourth quarter. Waterloo Capital L.P. now owns 14,003 shares of the company’s stock worth $1,195,000 after purchasing an additional 121 shares during the period.

Key Headlines Impacting SPDR Gold MiniShares Trust

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

• Positive Sentiment: Longer-term demand for gold remains supported by concerns over elevated government debt, inflation and currency risks. Invesco said investors are increasingly treating gold as a strategic portfolio allocation rather than a short-term trade. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Central banks added a net 23 tonnes of gold in July, led by China and Poland, reinforcing the case for sustained official-sector demand. Geopolitical concerns are also encouraging some European institutions to reposition their reserves. Central banks add 23 net tonnes of gold in July
• Neutral Sentiment: Gold recovered part of its early selloff ahead of upcoming inflation data. Analysts continue to describe the longer-term outlook as constructive, but near-term direction may depend on whether inflation and policy expectations push yields higher or lower. Gold claws back from brutal jobs selloff as markets brace for key inflation data
• Negative Sentiment: The U.S. economy added 162,000 jobs in August, exceeding expectations. The stronger labor market lifted interest-rate expectations and Treasury yields, increasing the opportunity cost of holding non-yielding gold and pressuring GLDM. Gold also tested its 50-day moving average, raising a technical risk if support fails. Gold Tests 50-Day EMA as Strong US Jobs Data Lifts Rates

SPDR Gold MiniShares Trust Trading Down 0.9%

NYSEARCA:GLDM opened at $87.73 on Friday. The firm’s fifty day moving average price is $83.89 and its two-hundred day moving average price is $89.37. SPDR Gold MiniShares Trust has a one year low of $70.75 and a one year high of $109.74.

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.