SPDR Gold MiniShares Trust $GLDM Stock: Confluence Wealth Services Inc. Trims Stake

Confluence Wealth Services Inc. cut its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 67.7% during the third quarter, Holdings Channel reports. The fund owned 4,439 shares of the company’s stock after selling 9,305 shares during the quarter. Confluence Wealth Services Inc.’s holdings in SPDR Gold MiniShares Trust were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. AMG National Trust Bank lifted its holdings in SPDR Gold MiniShares Trust by 11.2% during the 3rd quarter. AMG National Trust Bank now owns 83,716 shares of the company’s stock valued at $6,880,000 after purchasing an additional 8,403 shares during the last quarter. Moneco Advisors LLC boosted its position in SPDR Gold MiniShares Trust by 4.0% during the third quarter. Moneco Advisors LLC now owns 69,239 shares of the company’s stock worth $5,690,000 after purchasing an additional 2,654 shares during the period. Lido Advisors LLC boosted its position in SPDR Gold MiniShares Trust by 5.4% during the third quarter. Lido Advisors LLC now owns 78,085 shares of the company’s stock worth $6,417,000 after purchasing an additional 4,027 shares during the period. Elevated Capital Advisors LLC raised its position in shares of SPDR Gold MiniShares Trust by 30.6% in the third quarter. Elevated Capital Advisors LLC now owns 3,301 shares of the company’s stock valued at $271,000 after purchasing an additional 773 shares during the period. Finally, New York Life Investment Management LLC bought a new position in shares of SPDR Gold MiniShares Trust in the third quarter valued at about $394,000.

SPDR Gold MiniShares Trust Stock Performance

NYSEARCA GLDM opened at $76.60 on Friday. The firm has a 50-day moving average of $82.43 and a 200-day moving average of $88.34. SPDR Gold MiniShares Trust has a 52-week low of $76.18 and a 52-week high of $109.74.

Trending Headlines about SPDR Gold MiniShares Trust

Here are a few of the latest headlines about GLDM:

• Positive Sentiment: Société Générale estimates gold could attract about $3.3 billion in buying from index rebalancing in the new year, potentially providing support after the recent decline. Gold could see $3.3 billion in buying on index rebalancing after 13% decline
• Neutral Sentiment: BlackRock’s investment strategist said gold retains support from important sources of demand and may offer portfolio benefits, although the article notes continued near-term weakness. BlackRock on gold and silver as more than defensive assets
• Negative Sentiment: Analysts warned that persistent inflation and rising real yields could keep pressure on gold, with one forecast highlighting $3,600 as a potential support level if prices break below $3,900. Gold faces pressure as real yields climb

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.