Independent Financial Group LLC Makes New Investment in SPDR Gold MiniShares Trust $GLDM

Independent Financial Group LLC purchased a new position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) in the first quarter, HoldingsChannel reports. The fund purchased 25,078 shares of the company’s stock, valued at approximately $2,324,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BCM Advisors LLC raised its position in shares of SPDR Gold MiniShares Trust by 139.3% in the first quarter. BCM Advisors LLC now owns 18,793 shares of the company’s stock valued at $1,680,000 after buying an additional 10,939 shares during the last quarter. Evergreen Advisors LLC acquired a new stake in SPDR Gold MiniShares Trust during the first quarter worth approximately $49,000. Noesis Capital Mangement Corp boosted its position in SPDR Gold MiniShares Trust by 10.9% during the first quarter. Noesis Capital Mangement Corp now owns 4,495 shares of the company’s stock worth $417,000 after acquiring an additional 440 shares during the last quarter. Wealthfront Advisers LLC grew its stake in SPDR Gold MiniShares Trust by 29.6% in the 1st quarter. Wealthfront Advisers LLC now owns 458,522 shares of the company’s stock worth $42,500,000 after acquiring an additional 104,667 shares during the period. Finally, Marks Group Wealth Management Inc purchased a new stake in SPDR Gold MiniShares Trust in the 1st quarter worth approximately $246,000.

SPDR Gold MiniShares Trust News Roundup

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

• Positive Sentiment: Gold bounced toward session highs near $4,000 after better-than-expected University of Michigan consumer sentiment data, while one-year inflation expectations eased, helping bullion recover from earlier losses. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull trend is still intact despite the pullback, with commentary suggesting the correction may be nearing completion and that central bank buying remains a long-term support factor. Gold’s Pullback Doesn’t Mean the Bull Market Is Over Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and options in the gold-fund space, but this is unlikely to be a major near-term driver for GLDM. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold remains under pressure overall, with multiple reports citing weak technicals, stronger Treasury yields, a firmer U.S. dollar, and better economic data as reasons traders are pressing the metal below support near $4,000. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support

SPDR Gold MiniShares Trust Trading Up 0.9%

Shares of GLDM opened at $79.45 on Friday. The stock has a fifty day moving average of $84.88 and a two-hundred day moving average of $91.50. SPDR Gold MiniShares Trust has a fifty-two week low of $64.71 and a fifty-two week 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.