Strategic Financial Services Inc. Has $44.59 Million Holdings in SPDR Gold MiniShares Trust $GLDM

Strategic Financial Services Inc. lessened its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 561,408 shares of the company’s stock after selling 22,348 shares during the quarter. SPDR Gold MiniShares Trust accounts for approximately 2.0% of Strategic Financial Services Inc.’s investment portfolio, making the stock its 12th biggest holding. Strategic Financial Services Inc.’s holdings in SPDR Gold MiniShares Trust were worth $44,587,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GLDM. AQR Capital Management LLC grew its position 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 valued at $1,488,000 after purchasing an additional 11,428 shares in the last quarter. Walleye Capital LLC bought a new stake in SPDR Gold MiniShares Trust during the 2nd quarter worth about $210,000. Jump Financial LLC boosted its stake in shares of SPDR Gold MiniShares Trust by 1.3% during the 2nd quarter. Jump Financial LLC now owns 42,431 shares of the company’s stock worth $2,780,000 after buying an additional 530 shares during the last quarter. State Street Corp boosted its stake in shares of SPDR Gold MiniShares Trust by 0.3% during the 2nd quarter. State Street Corp now owns 2,695,268 shares of the company’s stock worth $176,594,000 after buying an additional 8,380 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of SPDR Gold MiniShares Trust by 82.1% during the 2nd quarter. NewEdge Advisors LLC now owns 152,610 shares of the company’s stock worth $9,999,000 after buying an additional 68,786 shares during the last quarter.

SPDR Gold MiniShares Trust Stock Performance

Shares of NYSEARCA GLDM opened at $87.73 on Monday. The business has a 50-day moving average of $83.89 and a 200-day moving average of $89.29. SPDR Gold MiniShares Trust has a fifty-two week low of $70.75 and a fifty-two week high of $109.74.

Key SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Longer-term demand for gold remains supported by concerns over elevated government debt, inflation and currency risks. Invesco said investors are increasingly treating gold as a strategic portfolio allocation rather than a short-term trade. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Central banks added a net 23 tonnes of gold in July, led by China and Poland, reinforcing the case for sustained official-sector demand. Geopolitical concerns are also encouraging some European institutions to reposition their reserves. Central banks add 23 net tonnes of gold in July
• Neutral Sentiment: Gold recovered part of its early selloff ahead of upcoming inflation data. Analysts continue to describe the longer-term outlook as constructive, but near-term direction may depend on whether inflation and policy expectations push yields higher or lower. Gold claws back from brutal jobs selloff as markets brace for key inflation data
• Negative Sentiment: The U.S. economy added 162,000 jobs in August, exceeding expectations. The stronger labor market lifted interest-rate expectations and Treasury yields, increasing the opportunity cost of holding non-yielding gold and pressuring GLDM. Gold also tested its 50-day moving average, raising a technical risk if support fails. Gold Tests 50-Day EMA as Strong US Jobs Data Lifts Rates

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.