SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Hits New 1-Year High – Here’s Why

Shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $57.69 and last traded at $57.61, with a volume of 2338380 shares trading hands. The stock had previously closed at $56.69.

SPDR Gold MiniShares Trust Stock Performance

The business has a fifty day simple moving average of $53.42 and a 200 day simple moving average of $52.05.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Evoke Wealth LLC lifted its position in shares of SPDR Gold MiniShares Trust by 0.7% during the 4th quarter. Evoke Wealth LLC now owns 6,604,327 shares of the company’s stock worth $343,359,000 after buying an additional 47,341 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its position in shares of SPDR Gold MiniShares Trust by 1.9% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,744,426 shares of the company’s stock valued at $298,653,000 after acquiring an additional 106,433 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in SPDR Gold MiniShares Trust by 28.1% during the third quarter. Asset Management One Co. Ltd. now owns 4,017,429 shares of the company’s stock worth $209,429,000 after acquiring an additional 880,693 shares during the period. State Street Corp boosted its position in SPDR Gold MiniShares Trust by 43.2% in the third quarter. State Street Corp now owns 3,226,956 shares of the company’s stock worth $168,221,000 after purchasing an additional 973,410 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in SPDR Gold MiniShares Trust by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 2,141,060 shares of the company’s stock valued at $111,613,000 after purchasing an additional 46,759 shares during the period.

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.