SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Hits New 1-Year High – Still a Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $55.29 and last traded at $55.31, with a volume of 1195349 shares trading hands. The stock had previously closed at $54.58.

SPDR Gold MiniShares Trust Stock Performance

The business has a 50 day moving average of $52.81 and a 200-day moving average of $51.55.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

Hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management increased its stake in SPDR Gold MiniShares Trust by 25.5% in the 4th 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 in the last quarter. FMR LLC boosted its position in shares of SPDR Gold MiniShares Trust by 50.2% in the 3rd quarter. FMR LLC now owns 7,425 shares of the company’s stock worth $387,000 after buying an additional 2,480 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in SPDR Gold MiniShares Trust by 7.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,125 shares of the company’s stock valued at $163,000 after acquiring an additional 210 shares during the last quarter. Apella Capital LLC increased its holdings in SPDR Gold MiniShares Trust by 21.1% during the 3rd quarter. Apella Capital LLC now owns 17,313 shares of the company’s stock valued at $912,000 after acquiring an additional 3,021 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in SPDR Gold MiniShares Trust by 27.5% during the fourth 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.