Evernest Financial Advisors LLC Sells 39,707 Shares of SPDR Gold MiniShares Trust $GLDM

Evernest Financial Advisors LLC cut its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 12.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 279,724 shares of the company’s stock after selling 39,707 shares during the quarter. SPDR Gold MiniShares Trust comprises 5.5% of Evernest Financial Advisors LLC’s portfolio, making the stock its 4th biggest position. Evernest Financial Advisors LLC’s holdings in SPDR Gold MiniShares Trust were worth $25,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in SPDR Gold MiniShares Trust by 9.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 206,200 shares of the company’s stock valued at $17,603,000 after purchasing an additional 17,000 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of SPDR Gold MiniShares Trust by 17.4% during the 4th quarter. Farther Finance Advisors LLC now owns 635,706 shares of the company’s stock valued at $54,270,000 after buying an additional 94,239 shares during the last quarter. AE Wealth Management LLC raised its stake in shares of SPDR Gold MiniShares Trust by 37.0% during the 4th quarter. AE Wealth Management LLC now owns 330,650 shares of the company’s stock valued at $28,228,000 after buying an additional 89,313 shares during the last quarter. Financial Planning Hawaii Inc. acquired a new position in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at about $2,816,000. Finally, Forbes Financial Planning Inc. acquired a new position in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at about $4,302,000.

Key SPDR Gold MiniShares Trust News

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

• Negative Sentiment: Gold prices fell as a broad rise in global bond yields and concerns about tighter monetary policy weighed on the metal. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns
• Negative Sentiment: Gold’s safe-haven appeal has weakened as oil-price spikes and conflict-driven inflation fears pushed rate expectations higher, putting recent lows back in focus. The War Got Louder. The Gold Bounce Faded.
• Neutral Sentiment: Some analysts argue the recent drop could strengthen gold’s long-term case as a reserve asset in a multipolar world, even though a stronger dollar can hurt prices in the short term. Gold is becoming the reserve asset of the new multipolar world – Sprott’s Paul Wong
• Negative Sentiment: Gold has been trending lower overall this year, with spot prices slipping below key psychological support levels as silver also weakens. Gold Dips Below $4,000. Silver Prices Also Down.
• Negative Sentiment: Traders are betting on a hawkish Fed and looking ahead to CPI data, both of which could keep pressure on gold if yields and the dollar stay elevated. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Tests The $4000 Level

SPDR Gold MiniShares Trust Stock Performance

Shares of GLDM opened at $79.17 on Tuesday. SPDR Gold MiniShares Trust has a 52 week low of $64.71 and a 52 week high of $109.74. The stock’s 50-day moving average price is $85.90 and its 200-day moving average price is $91.78.

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.