Truist Financial Corp Cuts Position in SPDR Gold MiniShares Trust $GLDM

Truist Financial Corp trimmed its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 14.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,335 shares of the company’s stock after selling 21,664 shares during the quarter. Truist Financial Corp’s holdings in SPDR Gold MiniShares Trust were worth $11,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLDM. Sumitomo Mitsui Trust Group Inc. boosted its holdings in SPDR Gold MiniShares Trust by 26.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,477,937 shares of the company’s stock valued at $1,412,638,000 after purchasing an additional 3,881,643 shares in the last quarter. Mizuho Bank Ltd. acquired a new position in SPDR Gold MiniShares Trust in the third quarter valued at approximately $137,763,000. Bank of America Corp DE boosted its holdings in SPDR Gold MiniShares Trust by 28.6% in the third quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock valued at $563,230,000 after purchasing an additional 1,636,398 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in 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 valued at $41,763,000 after purchasing an additional 618,690 shares in the last quarter. Finally, 3EDGE Asset Management LP boosted its holdings in SPDR Gold MiniShares Trust by 22.1% in the third quarter. 3EDGE Asset Management LP now owns 2,700,196 shares of the company’s stock valued at $206,430,000 after purchasing an additional 488,576 shares in the last quarter.

Key SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Gold rebounded above $4,700 as traders looked past Middle East tensions, reinforcing safe-haven demand for bullion-linked funds like GLDM. Gold rebounds above $4,700 as investors look past Middle East tensions
• Positive Sentiment: Falling Treasury yields helped push gold higher, which is supportive for GLDM because gold does not pay interest and tends to benefit when yields ease. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Moves Higher Amid Falling Treasury Yields
• Positive Sentiment: Weak consumer sentiment and softer inflation expectations lifted spot gold to session highs, adding momentum to the bullish case for GLDM. Spot gold hits session high after preliminary Consumer Sentiment drops to 48.2, one-year inflation expectations dip to 4.5%
• Positive Sentiment: Gold and silver extended gains after the latest payrolls data and labor-market weakness bolstered the case for a more dovish rate outlook. Gold, silver extend gains as payrolls beat forecasts – Kitco AM Report
• Positive Sentiment: Central banks, including China, are reportedly continuing to buy gold on dips, supporting long-term demand for the metal. China and other central banks continue to buy the dip in gold

SPDR Gold MiniShares Trust Stock Up 0.5%

Shares of GLDM opened at $93.49 on Friday. The stock has a 50 day moving average price of $95.08 and a 200 day moving average price of $90.71. SPDR Gold MiniShares Trust has a 52-week low of $62.70 and a 52-week high of $109.74.

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.