Magnolia Private Wealth LLC Reduces Stock Holdings in SPDR Gold MiniShares Trust $GLDM

Magnolia Private Wealth LLC lowered its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 37.6% during the fourth quarter, Holdings Channel reports. The fund owned 30,348 shares of the company’s stock after selling 18,317 shares during the quarter. SPDR Gold MiniShares Trust makes up 1.8% of Magnolia Private Wealth LLC’s holdings, making the stock its 14th largest holding. Magnolia Private Wealth LLC’s holdings in SPDR Gold MiniShares Trust were worth $2,591,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GLDM. Mizuho Bank Ltd. purchased a new stake in SPDR Gold MiniShares Trust in the third quarter valued at $137,763,000. Bank of America Corp DE raised its stake in shares of SPDR Gold MiniShares Trust by 28.6% during the 3rd quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock valued at $563,230,000 after buying an additional 1,636,398 shares during the last quarter. Payden & Rygel purchased a new position in shares of SPDR Gold MiniShares Trust during the 4th quarter valued at about $110,981,000. Argos Wealth Advisors LLC acquired a new position in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at about $67,468,000. Finally, Corient Private Wealth LLC boosted its stake in shares of SPDR Gold MiniShares Trust by 3,304.3% in the second quarter. Corient Private Wealth LLC now owns 637,414 shares of the company’s stock worth $41,763,000 after buying an additional 618,690 shares during the last quarter.

SPDR Gold MiniShares Trust Trading Down 0.1%

Shares of GLDM stock opened at $89.87 on Friday. SPDR Gold MiniShares Trust has a twelve month low of $64.46 and a twelve month high of $109.74. The stock has a 50 day moving average of $92.88 and a 200 day moving average of $91.47.

SPDR Gold MiniShares Trust News Roundup

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

• Positive Sentiment: Gold prices firmed at points during the session as weaker U.S. manufacturing data, softer jobless-claims trends, and easing yields improved the outlook for non-yielding assets like gold. Gold prices anchored at $4,500 as S&P Global says U.S. economic activity continues to slow
• Positive Sentiment: Several analysts remain constructive on gold’s longer-term trend, citing consolidation after a strong rally and expectations for another leg higher over time. Gold’s ‘golden decade’ enters next phase with new $8,900 target – In Gold We Trust Report
• Neutral Sentiment: Gold is also trading in a tightening technical range, which suggests investors are waiting for a breakout before the next major move. Gold (XAU/USD) Price Forecast: Momentum Builds Inside Tightening Range
• Negative Sentiment: Rising or elevated Treasury yields are weighing on gold throughout the latest updates, since gold does not pay interest and competes poorly when bond yields move higher. Gold Edges Lower Amid Slightly Higher U.S. Treasury Yields
• Negative Sentiment: Safe-haven demand has also cooled as U.S.-Iran tensions eased, reducing one of the recent supports behind gold’s rally. Gold (XAUUSD) & Silver Price Forecast: Gold Reclaims $4,531 Channel Floor as Silver Defends $75.33 — Reversal Ahead?
• Negative Sentiment: Technical commentary suggests gold has been under short-term pressure after losing key support levels, keeping near-term downside risk in focus for bullion-linked funds such as GLDM. Gold price faces downside risk on break of 200-DMA and $4,350 critical support – Societe Generale

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.