SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Reaches New 1-Year High – Should You Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.69 and last traded at $57.61, with a volume of 2338380 shares. The stock had previously closed at $56.69.

SPDR Gold MiniShares Trust Stock Performance

The business has a fifty day moving average of $53.62 and a 200-day moving average of $52.15.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

A number of institutional investors and hedge funds have recently made changes to their positions in GLDM. CIBC Private Wealth Group LLC boosted its position in shares of SPDR Gold MiniShares Trust by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 21,412 shares of the company’s stock valued at $1,130,000 after acquiring an additional 185 shares during the last quarter. CENTRAL TRUST Co raised its stake in SPDR Gold MiniShares Trust by 1.3% in the third quarter. CENTRAL TRUST Co now owns 14,935 shares of the company’s stock valued at $779,000 after purchasing an additional 197 shares in the last quarter. MONECO Advisors LLC lifted its position in SPDR Gold MiniShares Trust by 4.0% during the third quarter. MONECO Advisors LLC now owns 5,455 shares of the company’s stock valued at $284,000 after purchasing an additional 208 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in SPDR Gold MiniShares Trust by 7.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,125 shares of the company’s stock worth $163,000 after buying an additional 210 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of SPDR Gold MiniShares Trust by 8.9% in the 4th quarter. Allworth Financial LP now owns 2,636 shares of the company’s stock worth $144,000 after buying an additional 216 shares during the last quarter.

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.