SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Large Volume Increase – Here’s Why

Shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) saw an uptick in trading volume on Tuesday . 4,204,048 shares traded hands during trading, an increase of 39% from the previous session’s volume of 3,021,490 shares.The stock last traded at $61.91 and had previously closed at $61.89.

SPDR Gold MiniShares Trust Price Performance

The company has a 50-day moving average price of $57.65 and a 200-day moving average price of $54.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLDM. Evoke Wealth LLC raised its holdings in SPDR Gold MiniShares Trust by 0.7% during the 4th quarter. Evoke Wealth LLC now owns 6,604,327 shares of the company’s stock worth $343,359,000 after buying an additional 47,341 shares during the period. Cassaday & Co Wealth Management LLC boosted its position in SPDR Gold MiniShares Trust by 1.9% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,744,426 shares of the company’s stock valued at $298,653,000 after purchasing an additional 106,433 shares during the last quarter. Bank of America Corp DE grew its stake in SPDR Gold MiniShares Trust by 109.5% in the fourth quarter. Bank of America Corp DE now owns 4,683,654 shares of the company’s stock valued at $243,503,000 after purchasing an additional 2,447,630 shares in the last quarter. State Street Corp raised its stake in shares of SPDR Gold MiniShares Trust by 43.2% during the 3rd quarter. State Street Corp now owns 3,226,956 shares of the company’s stock worth $168,221,000 after purchasing an additional 973,410 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of SPDR Gold MiniShares Trust by 23.8% in the 4th quarter. LPL Financial LLC now owns 2,196,980 shares of the company’s stock valued at $114,221,000 after buying an additional 422,213 shares during the last quarter.

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.