RM Financial Services LLC Makes New $9.58 Million Investment in SPDR Gold MiniShares Trust $GLDM

RM Financial Services LLC acquired a new position in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 112,169 shares of the company’s stock, valued at approximately $9,576,000. SPDR Gold MiniShares Trust makes up about 8.5% of RM Financial Services LLC’s holdings, making the stock its 2nd biggest position.

Several other hedge funds have also recently made changes to their positions in GLDM. AQR Capital Management LLC raised its stake in SPDR Gold MiniShares Trust by 90.6% in the first quarter. AQR Capital Management LLC now owns 24,046 shares of the company’s stock worth $1,488,000 after buying an additional 11,428 shares in the last quarter. Walleye Capital LLC bought a new position in shares of SPDR Gold MiniShares Trust in the 2nd quarter worth approximately $210,000. Jump Financial LLC lifted its stake in shares of SPDR Gold MiniShares Trust by 1.3% in the 2nd quarter. Jump Financial LLC now owns 42,431 shares of the company’s stock valued at $2,780,000 after purchasing an additional 530 shares during the period. State Street Corp lifted its stake in shares of SPDR Gold MiniShares Trust by 0.3% in the 2nd quarter. State Street Corp now owns 2,695,268 shares of the company’s stock valued at $176,594,000 after purchasing an additional 8,380 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of SPDR Gold MiniShares Trust by 82.1% during the second quarter. NewEdge Advisors LLC now owns 152,610 shares of the company’s stock valued at $9,999,000 after purchasing an additional 68,786 shares in the last quarter.

SPDR Gold MiniShares Trust Stock Down 4.1%

Shares of GLDM stock opened at $80.77 on Thursday. The business’s fifty day moving average is $91.25 and its 200 day moving average is $92.16. SPDR Gold MiniShares Trust has a twelve month low of $64.46 and a twelve month high of $109.74.

Key Stories Impacting SPDR Gold MiniShares Trust

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

• Neutral Sentiment: Some analysts still see long-term support for gold, citing central bank buying and the possibility that the broader bull market remains intact despite the recent correction.
• Negative Sentiment: Gold has broken below key technical levels, including the 200-day moving average and prior swing lows, signaling more downside risk and weakening near-term momentum. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Negative Sentiment: Hot U.S. CPI data reinforced expectations that the Federal Reserve may keep rates restrictive for longer, pressuring gold and related ETFs lower. Gold (XAUUSD) Price Forecast: Gold Price Tumbles as Hot CPI Reinforces Fed Rate Hike Path
• Negative Sentiment: Market commentary across multiple outlets says gold is likely to remain weak in the near term, with traders warning the selloff could continue if yields stay elevated and rate-hike odds rise.

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.