Secure Asset Management LLC Acquires New Position in SPDR Gold MiniShares Trust $GLDM

Secure Asset Management LLC bought a new position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 102,922 shares of the company’s stock, valued at approximately $8,174,000. SPDR Gold MiniShares Trust accounts for 1.2% of Secure Asset Management LLC’s investment portfolio, making the stock its 19th biggest position.

Several other large investors have also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in shares of SPDR Gold MiniShares Trust by 288.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock valued at $25,000 after buying an additional 199 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in SPDR Gold MiniShares Trust in the 4th quarter valued at approximately $26,000. HHM Wealth Advisors LLC grew its stake in SPDR Gold MiniShares Trust by 236.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock valued at $28,000 after buying an additional 213 shares in the last quarter. Root Financial Partners LLC raised its holdings in SPDR Gold MiniShares Trust by 548.2% during the 4th quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock valued at $31,000 after acquiring an additional 307 shares during the period. Finally, Gould Capital LLC raised its holdings in SPDR Gold MiniShares Trust by 377.8% during the 3rd quarter. Gould Capital LLC now owns 516 shares of the company’s stock valued at $39,000 after acquiring an additional 408 shares during the period.

SPDR Gold MiniShares Trust Stock Performance

NYSEARCA:GLDM opened at $85.59 on Wednesday. The stock’s fifty day moving average price is $83.41 and its two-hundred day moving average price is $89.53. SPDR Gold MiniShares Trust has a 1 year low of $68.88 and a 1 year high of $109.74.

Key Stories Impacting SPDR Gold MiniShares Trust

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

• Positive Sentiment: Longer term, Saxo Bank said gold remains supported by commodity-driven inflation, while State Street ETF flows indicate investors continue using gold as a hedge alongside U.S. large-cap equity exposure. Long-term gold price remains supported by commodity-led inflation Investors Are Balancing S&P 500 Growth With Gold Hedges
• Positive Sentiment: Julius Baer said increased U.S. Treasury debt buybacks could weaken the dollar and revive concerns about fiscal deterioration, potentially supporting gold over the longer term. Treasury’s ramped-up bond buybacks soften the U.S. dollar and boost the gold price
• Neutral Sentiment: Renewed U.S.-Iran and Gulf tensions are providing some safe-haven demand, but the resulting oil-price surge is also lifting inflation concerns, bond yields and expectations for tighter monetary policy. Gold and Silver Price Forecast: Hawkish Fed Meets Iran Risk as Jobs Data Looms
• Negative Sentiment: September Federal Reserve rate-hike odds held near 66% to 70% after a hawkish policy outlook. Rising global yields and a stronger dollar pressured gold and, by extension, GLDM. Gold tests $4,311 support as Fed-hike odds hold near 66%
• Negative Sentiment: Gold fell through its 20-day and 100-day moving averages and tested support near $4,311-$4,350. Analysts warned that a sustained break could expose gold to a pullback toward approximately $4,215, signaling additional downside risk for GLDM. Gold price at risk of pullback to $4,215
• Negative Sentiment: Reports that gold ETF inflows reversed after Kevin Warsh’s hawkish remarks suggest profit-taking and weaker near-term investor demand may be amplifying GLDM’s decline. Gold ETF Inflows Reverse Course as Warsh’s Hawkish Speech Crushes GLDM’s Summer Rally

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.