Pacific Excel Wealth Advisors Inc. Invests $3.32 Million in SPDR Gold MiniShares Trust $GLDM

Pacific Excel Wealth Advisors Inc. bought a new stake in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 41,784 shares of the company’s stock, valued at approximately $3,318,000. SPDR Gold MiniShares Trust makes up about 1.3% of Pacific Excel Wealth Advisors Inc.’s holdings, making the stock its 20th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in GLDM. Vigilare Wealth Management purchased a new position in SPDR Gold MiniShares Trust during the second quarter valued at $696,000. Stonebridge Financial Group LLC increased its stake in shares of SPDR Gold MiniShares Trust by 5.4% during the second quarter. Stonebridge Financial Group LLC now owns 51,407 shares of the company’s stock worth $4,083,000 after purchasing an additional 2,651 shares in the last quarter. Bulwark Capital Corp increased its stake in shares of SPDR Gold MiniShares Trust by 18.2% during the second quarter. Bulwark Capital Corp now owns 2,411 shares of the company’s stock worth $191,000 after purchasing an additional 372 shares in the last quarter. RDA Financial Network raised its position in shares of SPDR Gold MiniShares Trust by 31.1% during the 2nd quarter. RDA Financial Network now owns 3,373 shares of the company’s stock worth $268,000 after purchasing an additional 801 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its stake in SPDR Gold MiniShares Trust by 57.0% in the 2nd quarter. Confluence Investment Management LLC now owns 522,617 shares of the company’s stock valued at $41,506,000 after buying an additional 189,643 shares in the last quarter.

SPDR Gold MiniShares Trust Stock Up 0.7%

Shares of SPDR Gold MiniShares Trust stock opened at $80.70 on Wednesday. SPDR Gold MiniShares Trust has a twelve month low of $65.64 and a twelve month high of $109.74. The firm’s 50-day moving average price is $82.42 and its 200 day moving average price is $90.88.

SPDR Gold MiniShares Trust News Summary

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

• Positive Sentiment: Gold strengthened after June JOLTS job openings fell more than expected to 7.36 million. The softer labor-market data may reduce pressure on the Federal Reserve to maintain or raise interest rates, supporting non-yielding assets such as gold. Gold price catching a bid as JOLTS job openings drop to 7.36 million
• Positive Sentiment: Lower oil prices are easing inflation expectations, while some dollar weakness has helped lift gold and improve the outlook for GLDM. Gold moves higher as oil prices drop
• Positive Sentiment: The Bank of Korea began a long-term domestic gold-buying program, adding to broader central-bank demand that analysts view as an important floor for gold near $4,000 an ounce. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Chinese ETF demand, safe-haven buying ahead of the U.S. employment report and continuing geopolitical uncertainty are helping offset pressure from higher yields. Gold firms as Fed uncertainty and China ETF demand offset yield pressure
• Neutral Sentiment: Gold is holding above its 20-day moving average, with resistance near $4,166 and $4,203. A break above those levels could reinforce momentum for GLDM, but failure to break out would leave the metal range-bound. Gold price forecast: Can gold break above $4,203?
• Negative Sentiment: Higher real yields, firm long-term Treasury yields and persistent inflation are raising the opportunity cost of holding gold. Strong economic data could give the Fed more room to keep policy restrictive. Gold can recover despite higher real yields as rate pressures ease
• Negative Sentiment: Friday’s Nonfarm Payrolls report is the next major catalyst. Strong employment data could strengthen the dollar and revive rate-hike expectations, potentially weighing on gold and GLDM. Gold price forecast: Safe-haven demand grows ahead of NFP

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.