SPDR Gold MiniShares Trust $GLDM Stock: Cabot Wealth Management Inc. Grows Stake

Cabot Wealth Management Inc. lifted its stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,714 shares of the company’s stock after purchasing an additional 10,779 shares during the period. Cabot Wealth Management Inc.’s holdings in SPDR Gold MiniShares Trust were worth $8,852,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Diversify Advisory Services LLC grew its holdings in SPDR Gold MiniShares Trust by 31.1% during the 3rd quarter. Diversify Advisory Services LLC now owns 832,066 shares of the company’s stock valued at $68,720,000 after buying an additional 197,367 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in SPDR Gold MiniShares Trust by 86.5% during the second quarter. Integrated Wealth Concepts LLC now owns 25,798 shares of the company’s stock valued at $2,049,000 after acquiring an additional 11,966 shares in the last quarter. Financial Enhancement Group LLC increased its holdings in SPDR Gold MiniShares Trust by 117.8% in the 3rd quarter. Financial Enhancement Group LLC now owns 108,686 shares of the company’s stock valued at $8,816,000 after acquiring an additional 58,787 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in SPDR Gold MiniShares Trust by 64.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,188,672 shares of the company’s stock valued at $97,685,000 after acquiring an additional 465,716 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in SPDR Gold MiniShares Trust by 24.6% in the 3rd quarter. IFP Advisors Inc now owns 33,846 shares of the company’s stock worth $2,781,000 after purchasing an additional 6,688 shares in the last quarter.

SPDR Gold MiniShares Trust Trading Down 1.2%

Shares of GLDM stock opened at $78.81 on Thursday. The company’s fifty day simple moving average is $82.64 and its two-hundred day simple moving average is $88.46. SPDR Gold MiniShares Trust has a 52 week low of $76.54 and a 52 week high of $109.74.

SPDR Gold MiniShares Trust News Summary

Here’s some of the latest news about GLDM:

• Neutral Sentiment: Some early-session bargain buying and short covering briefly supported gold after its selloff, but that rebound faded later in U.S. trading. Gold and silver rebound after CPI-driven selloff Gold falls below $4,000
• Negative Sentiment: Gold fell below $4,000 an ounce as hotter-than-expected inflation strengthened expectations for further Fed rate increases. A stronger dollar and rising real yields make non-yielding gold less attractive, adding pressure to GLDM; analysts warned that prices could fall further. Gold prices fall below $4,000 as analysts warn of further losses Gold faces fresh headwinds as real yields climb
• Negative Sentiment: Demand signals were also mixed in India, where gold ETF inflows dropped 22% in October after fund houses halted bulk subscriptions, potentially tempering investment demand. India’s gold ETF inflows drop 22% in October

SPDR Gold MiniShares Trust Company 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.