John Boyer Inc. Makes New Investment in SPDR Gold MiniShares Trust $GLDM

John Boyer Inc. bought a new stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 102,290 shares of the company’s stock, valued at approximately $8,406,000. SPDR Gold MiniShares Trust makes up 6.6% of John Boyer Inc.’s holdings, making the stock its 3rd largest position.

A number of other hedge funds have also recently made changes to their positions in the company. WealthNavi Inc. grew its stake in shares of SPDR Gold MiniShares Trust by 98.4% in the third quarter. WealthNavi Inc. now owns 3,202,560 shares of the company’s stock worth $263,186,000 after purchasing an additional 1,588,202 shares during the last quarter. Latitude Advisors LLC bought a new position in SPDR Gold MiniShares Trust in the third quarter worth approximately $620,000. Balance Wealth Partners LLC acquired a new position in shares of SPDR Gold MiniShares Trust during the third quarter valued at about $79,000. Angeles Wealth Management LLC boosted its position in shares of SPDR Gold MiniShares Trust by 14.3% during the third quarter. Angeles Wealth Management LLC now owns 4,511 shares of the company’s stock valued at $371,000 after buying an additional 565 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. grew its position in SPDR Gold MiniShares Trust by 30.9% in the 3rd quarter. Total Clarity Wealth Management Inc. now owns 6,709 shares of the company’s stock worth $551,000 after purchasing an additional 1,582 shares in the last quarter.

SPDR Gold MiniShares Trust Price Performance

GLDM stock opened at $80.32 on Wednesday. The stock’s fifty day simple moving average is $84.83 and its two-hundred day simple moving average is $89.18. SPDR Gold MiniShares Trust has a 1-year low of $77.50 and a 1-year high of $109.74.

Trending Headlines about SPDR Gold MiniShares Trust

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

• Positive Sentiment: Gold rebounded after early losses as declining crude oil prices eased inflation concerns and reduced expectations for additional Fed tightening, encouraging renewed precious-metals buying. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Gold is attracting safe-haven demand as weak U.S. housing data raises concerns about the economy, while prices continue to hold the important $4,000-per-ounce support level. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: Despite recent weakness, State Street said gold could recover substantially, with a potential path toward $5,500 by early next year. That outlook supports longer-term demand for GLDM. Downside risks are building in gold, but prices still have a path to $5,000
• Neutral Sentiment: Gold briefly weakened but recovered toward session highs even as consumer confidence improved more than expected. Investors remain focused on Wednesday’s Federal Reserve decision and its guidance for future interest rates. Gold price shoots to session high after Consumer Confidence rises
• Negative Sentiment: Analysts warn that gold must establish a durable floor near $4,000 or risk a deeper correction. The metal’s recent two-month decline has raised concerns about weakening momentum, even though prices appear oversold. Gold price needs to build a floor here or face a deeper correction
• Negative Sentiment: Potential for another Fed rate increase later this year, elevated oil prices and Middle East uncertainty could continue to pressure gold by supporting inflation and interest-rate expectations. Gold edges lower as investors mull potential Fed rate hike

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.