Redwood Investment Management LLC Has $613,000 Stake in SPDR Gold MiniShares Trust $GLDM

Redwood Investment Management LLC reduced its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 60.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,613 shares of the company’s stock after selling 10,185 shares during the quarter. Redwood Investment Management LLC’s holdings in SPDR Gold MiniShares Trust were worth $613,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GLDM. China Universal Asset Management Co. Ltd. grew its stake in SPDR Gold MiniShares Trust by 9.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 206,200 shares of the company’s stock valued at $17,603,000 after buying an additional 17,000 shares during the last quarter. Farther Finance Advisors LLC lifted its position in SPDR Gold MiniShares Trust by 17.4% during the fourth quarter. Farther Finance Advisors LLC now owns 635,706 shares of the company’s stock worth $54,270,000 after acquiring an additional 94,239 shares during the last quarter. AE Wealth Management LLC lifted its position in SPDR Gold MiniShares Trust by 37.0% during the fourth quarter. AE Wealth Management LLC now owns 330,650 shares of the company’s stock worth $28,228,000 after acquiring an additional 89,313 shares during the last quarter. Forbes Financial Planning Inc. acquired a new stake in SPDR Gold MiniShares Trust during the fourth quarter worth approximately $4,302,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of SPDR Gold MiniShares Trust during the fourth quarter worth approximately $485,000.

SPDR Gold MiniShares Trust Stock Up 0.7%

SPDR Gold MiniShares Trust stock opened at $80.70 on Wednesday. SPDR Gold MiniShares Trust has a 12 month low of $65.64 and a 12 month high of $109.74. The stock’s 50 day moving average is $82.42 and its 200-day moving average is $90.88.

Key SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Gold strengthened after June JOLTS job openings fell more than expected to 7.36 million. The softer labor-market data may reduce pressure on the Federal Reserve to maintain or raise interest rates, supporting non-yielding assets such as gold. Gold price catching a bid as JOLTS job openings drop to 7.36 million
• Positive Sentiment: Lower oil prices are easing inflation expectations, while some dollar weakness has helped lift gold and improve the outlook for GLDM. Gold moves higher as oil prices drop
• Positive Sentiment: The Bank of Korea began a long-term domestic gold-buying program, adding to broader central-bank demand that analysts view as an important floor for gold near $4,000 an ounce. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Chinese ETF demand, safe-haven buying ahead of the U.S. employment report and continuing geopolitical uncertainty are helping offset pressure from higher yields. Gold firms as Fed uncertainty and China ETF demand offset yield pressure
• Neutral Sentiment: Gold is holding above its 20-day moving average, with resistance near $4,166 and $4,203. A break above those levels could reinforce momentum for GLDM, but failure to break out would leave the metal range-bound. Gold price forecast: Can gold break above $4,203?
• Negative Sentiment: Higher real yields, firm long-term Treasury yields and persistent inflation are raising the opportunity cost of holding gold. Strong economic data could give the Fed more room to keep policy restrictive. Gold can recover despite higher real yields as rate pressures ease
• Negative Sentiment: Friday’s Nonfarm Payrolls report is the next major catalyst. Strong employment data could strengthen the dollar and revive rate-hike expectations, potentially weighing on gold and GLDM. Gold price forecast: Safe-haven demand grows ahead of NFP

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.