Nwam LLC Raises Position in SPDR Gold MiniShares Trust $GLDM

Nwam LLC grew its stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 93.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,743 shares of the company’s stock after purchasing an additional 14,860 shares during the quarter. Nwam LLC’s holdings in SPDR Gold MiniShares Trust were worth $2,442,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in SPDR Gold MiniShares Trust during the second quarter worth $2,483,000. Public Employees Retirement System of Ohio purchased a new stake in SPDR Gold MiniShares Trust in the 2nd quarter valued at $157,696,000. First Bancorp Inc ME bought a new position in SPDR Gold MiniShares Trust during the 2nd quarter valued at $51,000. Ancora Advisors LLC bought a new position in SPDR Gold MiniShares Trust during the 2nd quarter valued at $857,000. Finally, Trust Co. of Vermont purchased a new position in SPDR Gold MiniShares Trust during the 2nd quarter worth $100,000.

Key Headlines 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 Stock Down 2.9%

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

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.