Waverly Advisors LLC Has $2.01 Million Stock Position in SPDR Gold MiniShares Trust $GLDM

Waverly Advisors LLC lifted its position in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 36.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 25,362 shares of the company’s stock after buying an additional 6,764 shares during the quarter. Waverly Advisors LLC’s holdings in SPDR Gold MiniShares Trust were worth $2,014,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of SPDR Gold MiniShares Trust by 288.4% in the first quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock worth $25,000 after acquiring an additional 199 shares during the last quarter. Godfrey Financial Associates Inc. bought a new position in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at approximately $26,000. HHM Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 213 shares during the last quarter. Root Financial Partners LLC lifted its position 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 worth $31,000 after acquiring an additional 307 shares during the last quarter. Finally, Gould Capital LLC boosted its stake in SPDR Gold MiniShares Trust by 377.8% during the 3rd quarter. Gould Capital LLC now owns 516 shares of the company’s stock valued at $39,000 after purchasing an additional 408 shares during the period.

SPDR Gold MiniShares Trust Stock Performance

Shares of SPDR Gold MiniShares Trust stock opened at $86.00 on Friday. The company’s fifty day simple moving average is $84.50 and its 200-day simple moving average is $88.93. SPDR Gold MiniShares Trust has a 1 year low of $71.81 and a 1 year high of $109.74.

SPDR Gold MiniShares Trust News Roundup

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

• Positive Sentiment: Gold recovered after holding key support near $4,300, helped by a pullback in crude oil and a weaker U.S. dollar. These conditions can support gold and GLDM by reducing pressure from energy-driven inflation and currency strength. Gold price holds $4,300 support as CPI lifts Fed-hike odds
• Positive Sentiment: U.S. consumer sentiment weakened to 47.8 in September while inflation expectations surged. Concern about economic conditions and persistent inflation may increase demand for gold as a defensive asset. Gold price holds near high after preliminary Consumer Sentiment falls
• Positive Sentiment: Analysts said a Federal Reserve rate hike may create near-term volatility but is unlikely to derail gold’s longer-term bullish outlook, supported by sovereign-debt concerns, central-bank positioning and geopolitical risks. The Fed can hike, but it won’t derail gold’s long-term bull market
• Neutral Sentiment: Technical analysts view the market as range-bound. A break above roughly $4,443 could signal another bullish leg, while support around the 200-day moving average remains important for determining the next direction. Gold Price Forecast: $4,443 Breakout Could Signal Next Leg
• Negative Sentiment: Hotter inflation data increased market expectations for a Federal Reserve rate hike next week. Higher interest rates and Treasury yields raise the opportunity cost of holding non-yielding gold, creating pressure for GLDM. Gold, silver prices tumble as hot PPI and oil shock lift yields
• Negative Sentiment: Short interest in GLDM rose 80.3% during August to 6.24 million shares, signaling increased bearish positioning, although the short-interest ratio remains relatively low at about one day of average volume.

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.