SPDR Gold MiniShares Trust $GLDM Stock Position Lessened by Shira Ridge Wealth Management

Shira Ridge Wealth Management trimmed its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 31.2% during the second quarter, Holdings Channel.com reports. The firm owned 26,379 shares of the company’s stock after selling 11,951 shares during the quarter. SPDR Gold MiniShares Trust accounts for approximately 0.7% of Shira Ridge Wealth Management’s portfolio, making the stock its 24th biggest position. Shira Ridge Wealth Management’s holdings in SPDR Gold MiniShares Trust were worth $2,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allied Private Wealth LLC bought a new position in SPDR Gold MiniShares Trust in the 2nd quarter valued at about $60,000. Tactive Advisors LLC raised its position in shares of SPDR Gold MiniShares Trust by 5.2% during the 2nd quarter. Tactive Advisors LLC now owns 6,506 shares of the company’s stock worth $517,000 after buying an additional 319 shares in the last quarter. OxenFree Capital LLC raised its position in shares of SPDR Gold MiniShares Trust by 11.8% during the 2nd quarter. OxenFree Capital LLC now owns 3,157 shares of the company’s stock worth $257,000 after buying an additional 332 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of SPDR Gold MiniShares Trust in the 2nd quarter worth approximately $55,000. Finally, First Heartland Consultants Inc. lifted its stake in shares of SPDR Gold MiniShares Trust by 93.5% in the 2nd quarter. First Heartland Consultants Inc. now owns 15,587 shares of the company’s stock worth $1,238,000 after acquiring an additional 7,532 shares during the period.

SPDR Gold MiniShares Trust News Summary

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

• Positive Sentiment: A weak U.S. jobs report showing a loss of 23,000 positions in July increased expectations that the Federal Reserve may adopt a more dovish stance. Lower rate expectations, Treasury yields and the dollar generally support non-yielding gold. Gold prices surging higher as U.S. economy loses 23k jobs in July
• Positive Sentiment: Gold broke above a prolonged consolidation range after repeatedly testing support near $4,000 an ounce. Technical analysts see potential for additional gains toward major resistance around $4,382-$4,392 and possibly $4,494. Gold (XAU/USD) Price Forecast: Breakout Builds Toward Key Resistance
• Positive Sentiment: Central-bank demand remains supportive: the People’s Bank of China made its largest monthly gold purchase since 2023 and has now bought bullion for 21 consecutive months. Gold-backed ETFs also recorded net inflows in July after two months of withdrawals. PBOC boosts gold buying with largest monthly purchase since 2023
• Positive Sentiment: Investors are increasing bullish exposure, with traders reportedly spending about $180 million on gold call options. Analysts at BNP Paribas also see room for gold to reach $5,000 if pressure on the Fed contributes to further dollar weakness. Gold bugs spend $180 million betting all’s clear for metal as bond yields stall

SPDR Gold MiniShares Trust Stock Performance

SPDR Gold MiniShares Trust stock opened at $85.95 on Monday. SPDR Gold MiniShares Trust has a 12-month low of $65.64 and a 12-month high of $109.74. The firm has a 50 day simple moving average of $82.16 and a 200-day simple moving average of $90.75.

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.