SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Hits New 12-Month High – Still a Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM)’s stock price hit a new 52-week high on Thursday . The company traded as high as $62.88 and last traded at $62.69, with a volume of 3977414 shares traded. The stock had previously closed at $61.26.

SPDR Gold MiniShares Trust Stock Up 2.5 %

The firm’s fifty day moving average price is $58.69 and its 200-day moving average price is $54.93.

Institutional Trading of SPDR Gold MiniShares Trust

Several institutional investors have recently modified their holdings of GLDM. Bank of America Corp DE boosted its stake in shares of SPDR Gold MiniShares Trust by 109.5% during the 4th quarter. Bank of America Corp DE now owns 4,683,654 shares of the company’s stock worth $243,503,000 after acquiring an additional 2,447,630 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in SPDR Gold MiniShares Trust during the fourth quarter valued at about $91,357,000. State Street Corp boosted its holdings in shares of SPDR Gold MiniShares Trust by 43.2% in the third quarter. State Street Corp now owns 3,226,956 shares of the company’s stock worth $168,221,000 after buying an additional 973,410 shares during the period. Raymond James Financial Inc. purchased a new position in shares of SPDR Gold MiniShares Trust in the fourth quarter worth approximately $43,698,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of SPDR Gold MiniShares Trust during the fourth quarter valued at approximately $30,003,000.

About SPDR Gold MiniShares Trust

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.