SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Reaches New 52-Week High – What’s Next?

Shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $58.41 and last traded at $58.42, with a volume of 1606913 shares traded. The stock had previously closed at $58.14.

SPDR Gold MiniShares Trust Price Performance

The company’s 50 day moving average is $54.33 and its 200 day moving average is $52.68.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of GLDM. Brookstone Capital Management raised its position in SPDR Gold MiniShares Trust by 25.5% in the fourth quarter. Brookstone Capital Management now owns 99,042 shares of the company’s stock valued at $5,149,000 after purchasing an additional 20,124 shares during the last quarter. FMR LLC raised its holdings in SPDR Gold MiniShares Trust by 50.2% in the 3rd quarter. FMR LLC now owns 7,425 shares of the company’s stock valued at $387,000 after buying an additional 2,480 shares during the last quarter. Theory Financial LLC bought a new position in SPDR Gold MiniShares Trust in the 4th quarter valued at approximately $491,000. Lodestar Private Asset Management LLC boosted its position in SPDR Gold MiniShares Trust by 5.6% during the 4th quarter. Lodestar Private Asset Management LLC now owns 77,733 shares of the company’s stock worth $4,041,000 after buying an additional 4,097 shares during the period. Finally, Mutual Advisors LLC grew its holdings in SPDR Gold MiniShares Trust by 27.5% during the 4th quarter. Mutual Advisors LLC now owns 13,510 shares of the company’s stock worth $727,000 after acquiring an additional 2,914 shares during the last quarter.

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.