Peak Financial Advisors LLC Sells 17,920 Shares of SPDR Gold MiniShares Trust $GLDM

Peak Financial Advisors LLC lowered its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 156,028 shares of the company’s stock after selling 17,920 shares during the period. SPDR Gold MiniShares Trust makes up about 5.5% of Peak Financial Advisors LLC’s holdings, making the stock its 3rd biggest position. Peak Financial Advisors LLC’s holdings in SPDR Gold MiniShares Trust were worth $12,822,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GLDM. Sumitomo Mitsui Trust Group Inc. increased its holdings in SPDR Gold MiniShares Trust by 1.1% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,594,406 shares of the company’s stock worth $1,723,515,000 after purchasing an additional 206,914 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of SPDR Gold MiniShares Trust by 45.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 3,236,300 shares of the company’s stock worth $289,066,000 after buying an additional 1,006,700 shares in the last quarter. WealthNavi Inc. boosted its holdings in shares of SPDR Gold MiniShares Trust by 98.4% during the 3rd quarter. WealthNavi Inc. now owns 3,202,560 shares of the company’s stock worth $263,186,000 after buying an additional 1,588,202 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of SPDR Gold MiniShares Trust during the 2nd quarter worth approximately $157,696,000. Finally, Regents of The University of California acquired a new stake in shares of SPDR Gold MiniShares Trust during the 1st quarter worth approximately $133,351,000.

SPDR Gold MiniShares Trust Trading Down 3.4%

NYSEARCA:GLDM opened at $76.83 on Friday. The company has a fifty day moving average of $84.27 and a 200-day moving average of $89.02. SPDR Gold MiniShares Trust has a twelve month low of $76.54 and a twelve month high of $109.74.

Key SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Gold’s contribution to the Swiss National Bank’s third-quarter profit highlights the value of the metal in central-bank reserves. The SNB reported a 7.6 billion-franc gain from gold, although the result does not directly improve GLDM’s near-term outlook. Swiss central bank posts bumper $23bn profit as gold, foreign assets soar
• Neutral Sentiment: Technical analysts are watching support near $3,950, $3,900 and the longer-term $3,886–$3,708 retracement zone. A stabilization at these levels could attract buyers, while further breaks would indicate additional downside risk for GLDM. Gold Price Forecast: Mass Liquidation Puts $3,886–$3,708 in Play
• Negative Sentiment: Persistent inflation, stronger-than-expected U.S. GDP and elevated real Treasury yields have increased expectations that the Federal Reserve could keep rates higher or resume tightening. Higher yields raise the opportunity cost of holding non-yielding gold and are the main catalyst weighing on GLDM. Gold and Silver Price Forecast: Hot PCE Lifts Hike Odds
• Negative Sentiment: Gold has broken key technical support and analysts describe the move as a bearish reversal or mass liquidation. Forecasts now warn of a deeper correction if $3,950 and $3,900 fail to hold. Gold Price Forecast – Gold Drops Below $4000
• Negative Sentiment: The Federal Reserve’s rate hold has not removed the possibility of a future hike, keeping bond yields supported and limiting gold’s appeal. This macro backdrop has pressured both gold and silver and is likely driving GLDM’s weakness. Gold Declines, Weighed by Tighter Monetary Policy Expectations

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.