Hobbs Group Advisors LLC Lowers Stock Position in SPDR Gold MiniShares Trust $GLDM

Hobbs Group Advisors LLC cut its stake in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 16.4% in the 1st quarter, HoldingsChannel reports. The firm owned 46,547 shares of the company’s stock after selling 9,110 shares during the period. SPDR Gold MiniShares Trust makes up 1.3% of Hobbs Group Advisors LLC’s portfolio, making the stock its 15th biggest position. Hobbs Group Advisors LLC’s holdings in SPDR Gold MiniShares Trust were worth $4,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of SPDR Gold MiniShares Trust by 288.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock worth $25,000 after buying an additional 199 shares during the last quarter. Godfrey Financial Associates Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust during the 4th quarter valued at $26,000. HHM Wealth Advisors LLC lifted its holdings in shares of SPDR Gold MiniShares Trust by 236.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock worth $28,000 after acquiring an additional 213 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of SPDR Gold MiniShares Trust by 548.2% during the 4th quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock worth $31,000 after acquiring an additional 307 shares during the last quarter. Finally, Networth Advisors LLC purchased a new position in SPDR Gold MiniShares Trust in the fourth quarter worth $33,000.

SPDR Gold MiniShares Trust Price Performance

GLDM opened at $81.33 on Friday. SPDR Gold MiniShares Trust has a 52 week low of $65.13 and a 52 week high of $109.74. The business’s fifty day simple moving average is $82.95 and its 200 day simple moving average is $91.11.

Key SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Gold and silver rebounded in late U.S. trading after softer inflation data reduced near-term concerns about additional interest-rate tightening. Because GLDM is designed to track the performance of gold bullion, stronger spot-gold prices are supportive of the fund. Gold holds above $4,100 as softer PCE offsets hawkish Fed
• Positive Sentiment: Gold initially moved higher after the Fed held rates steady, while weaker second-quarter GDP growth increased expectations that economic softness could eventually support a less restrictive policy stance. Gold Price Analysis – Gold Gaps Higher as FOMC Holds Interest Rate
• Neutral Sentiment: Analysts said the Fed’s “hawkish hold” stabilized precious metals but may keep gold in a consolidation range until policymakers provide clearer guidance at the September meeting. Gold is holding above the important $4,000 support level, but a sustained move above roughly $4,200 is viewed as necessary to confirm a broader bullish reversal. Fed’s hawkish hold stabilizes gold and silver
• Positive Sentiment: Underlying demand remains supportive: the World Gold Council reported resilient central-bank buying and strong Asian demand, while Royal Mint data pointed to renewed retail interest in precious metals after the recent selloff. Gold demand proves resilient despite Q2 selloff
• Negative Sentiment: Upside remains limited by firm Treasury yields, resilient jobless-claims data, elevated oil prices and the Fed’s continued tightening bias. Consumers also continue selling unwanted jewelry at elevated prices, adding some supply pressure to the gold market. Investors are still cashing in unwanted gold jewelry

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.