Noble Wealth Partners LLC Takes $1.29 Million Position in SPDR Gold MiniShares Trust $GLDM

Noble Wealth Partners LLC bought a new position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 16,207 shares of the company’s stock, valued at approximately $1,287,000. SPDR Gold MiniShares Trust accounts for 1.1% of Noble Wealth Partners LLC’s holdings, making the stock its 27th biggest position.

Several other hedge funds have also added to or reduced their stakes in GLDM. Wells Fargo & Company MN boosted its stake in SPDR Gold MiniShares Trust by 54.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock valued at $675,594,000 after purchasing an additional 2,785,608 shares during the period. Public Employees Retirement System of Ohio acquired a new position in SPDR Gold MiniShares Trust in the 2nd quarter valued at $157,696,000. Morgan Stanley increased its position in SPDR Gold MiniShares Trust by 22.6% during the 4th quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock worth $901,685,000 after buying an additional 1,943,672 shares during the period. Bank of America Corp DE increased its position in 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 buying an additional 1,636,398 shares during the period. Finally, Regents of The University of California acquired a new stake in shares of SPDR Gold MiniShares Trust during the first quarter worth $133,351,000.

SPDR Gold MiniShares Trust Price Performance

GLDM opened at $87.73 on Friday. The stock has a fifty day moving average of $83.89 and a 200-day moving average of $89.37. SPDR Gold MiniShares Trust has a fifty-two week low of $70.75 and a fifty-two week high of $109.74.

SPDR Gold MiniShares Trust News Summary

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 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.