Principal Financial Group Inc. Reduces Stock Holdings in SPDR Gold MiniShares Trust $GLDM

Principal Financial Group Inc. cut its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 42.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,259,342 shares of the company’s stock after selling 932,559 shares during the quarter. Principal Financial Group Inc.’s holdings in SPDR Gold MiniShares Trust were worth $116,728,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its position in SPDR Gold MiniShares Trust by 1.1% during 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 acquiring an additional 206,914 shares during the last quarter. Morgan Stanley grew its position in shares of SPDR Gold MiniShares Trust by 22.6% in the fourth quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock valued at $901,685,000 after purchasing an additional 1,943,672 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of SPDR Gold MiniShares Trust by 54.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock worth $675,594,000 after purchasing an additional 2,785,608 shares in the last quarter. Evoke Wealth LLC increased its stake in shares of SPDR Gold MiniShares Trust by 1.7% during the 4th quarter. Evoke Wealth LLC now owns 7,374,785 shares of the company’s stock worth $629,586,000 after purchasing an additional 123,123 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of SPDR Gold MiniShares Trust by 28.6% during the 3rd quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock worth $563,230,000 after purchasing an additional 1,636,398 shares in the last quarter.

Key SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Gold benefited from softer U.S. consumer and producer inflation data, which pressured yields and the dollar and improved the outlook for non-yielding assets like gold. Gold edges higher, silver slips as oil keeps inflation risk alive – Kitco PM Report
• Positive Sentiment: Geopolitical and oil-market risks are keeping inflation concerns alive, which can support safe-haven demand for gold. Gold steadies above $4,000 as PPI cools, yields rise – Kitco AM Report
• Positive Sentiment: Several strategists said central bank buying and policy uncertainty remain supportive for gold, even as the metal consolidates below resistance. Gold (XAUUSD) & Silver Price Forecast: Is $4,000 Gold’s Next Bounce or Breakdown?
• Neutral Sentiment: Gold is still facing resistance around the $4,100 area, suggesting the recent rebound may need stronger momentum to extend further. Gold holds firm above $4,000 as investors look beyond inflation fears – Saxo’s Hansen
• Neutral Sentiment: Technical commentary remains mixed, with some forecasts warning that gold is still trapped below resistance while others see signs of a possible reversal. Gold (XAU/USD) Price Forecast: Can Gold Break Out Above Key Resistance?
• Negative Sentiment: Higher Treasury yields at times continue to cap gold’s upside, which can weigh on GLDM if rates keep climbing. Gold Flat Amid Rising Oil Prices

SPDR Gold MiniShares Trust Stock Performance

Shares of SPDR Gold MiniShares Trust stock opened at $80.24 on Thursday. SPDR Gold MiniShares Trust has a 1 year low of $64.71 and a 1 year high of $109.74. The business has a 50 day moving average price of $85.45 and a 200 day moving average price of $91.67.

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.