Summitas Investment Management LLC Acquires New Position in SPDR Gold MiniShares Trust $GLDM

Summitas Investment Management LLC acquired a new stake in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) during the first quarter, Holdings Channel.com reports. The fund acquired 219,654 shares of the company’s stock, valued at approximately $20,360,000. SPDR Gold MiniShares Trust accounts for approximately 16.0% of Summitas Investment Management LLC’s portfolio, making the stock its 2nd largest holding.

Several other large investors have also recently added to or reduced their stakes in GLDM. PNC Financial Services Group Inc. increased its stake in shares of SPDR Gold MiniShares Trust by 288.4% in the first quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock worth $25,000 after acquiring an additional 199 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in SPDR Gold MiniShares Trust by 236.7% during the first quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock valued at $28,000 after purchasing an additional 213 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new stake in SPDR Gold MiniShares Trust during the fourth quarter valued at $26,000. Root Financial Partners LLC grew its stake in SPDR Gold MiniShares Trust by 548.2% in the fourth quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock valued at $31,000 after purchasing an additional 307 shares in the last quarter. Finally, Networth Advisors LLC purchased a new position in SPDR Gold MiniShares Trust in the fourth quarter valued at about $33,000.

More SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Gold prices jumped as buyers stepped in after recent weakness, with short covering and renewed safe-haven demand driving the metal higher even as Treasury yields and the U.S. dollar stayed firm. Gold rallies as buyers ignore higher yields, oil shock – Kitco PM Report
• Positive Sentiment: Several analysts said gold has broken above key resistance and may be setting up for a larger rebound, with central-bank buying, physical demand, and geopolitical risk helping support the outlook. Gold (XAU/USD) Price Forecast: Breakout Signals Point to Higher Prices
• Positive Sentiment: Gold also found support from continuing Middle East tensions and fears tied to the U.S.-Iran conflict, reinforcing demand for defensive assets. Gold Prices Have Tanked. Buying the Dip Makes Sense.
• Neutral Sentiment: Some commentary noted gold is still battling higher yields, a firmer dollar, and the possibility of elevated interest rates, which could limit upside if macro pressure strengthens again. Despite Middle East escalation, interest rates remain the key price driver for gold and silver – StoneX
• Negative Sentiment: Earlier reports said gold had been under pressure near support because of “higher-for-longer” rate expectations, stronger Treasury yields, and dollar strength, which remain the main risks for GLDM if sentiment turns. Gold Falls Amid Higher-For-Longer Interest-Rate Expectations

SPDR Gold MiniShares Trust Stock Up 2.0%

Shares of GLDM stock opened at $80.82 on Wednesday. SPDR Gold MiniShares Trust has a fifty-two week low of $64.71 and a fifty-two week high of $109.74. The stock’s 50-day moving average is $84.35 and its two-hundred day moving average is $91.46.

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.