Magnolia Private Wealth LLC Decreases Stake in SPDR Gold MiniShares Trust $GLDM

Magnolia Private Wealth LLC cut its stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 37.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,348 shares of the company’s stock after selling 18,317 shares during the period. SPDR Gold MiniShares Trust accounts for about 1.8% of Magnolia Private Wealth LLC’s portfolio, making the stock its 14th largest position. Magnolia Private Wealth LLC’s holdings in SPDR Gold MiniShares Trust were worth $2,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GLDM. Mizuho Bank Ltd. purchased a new position in shares of SPDR Gold MiniShares Trust in the third quarter worth $137,763,000. Bank of America Corp DE increased its position in shares of SPDR Gold MiniShares Trust by 28.6% in the 3rd quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock valued at $563,230,000 after acquiring an additional 1,636,398 shares during the period. Payden & Rygel acquired a new position in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at $110,981,000. Argos Wealth Advisors LLC purchased a new position in SPDR Gold MiniShares Trust in the 4th quarter worth $67,468,000. Finally, Corient Private Wealth LLC raised its stake in SPDR Gold MiniShares Trust by 3,304.3% in the 2nd quarter. Corient Private Wealth LLC now owns 637,414 shares of the company’s stock worth $41,763,000 after acquiring an additional 618,690 shares during the last quarter.

SPDR Gold MiniShares Trust News Roundup

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

• Positive Sentiment: Gold prices firmed at points during the session as weaker U.S. manufacturing data, softer jobless-claims trends, and easing yields improved the outlook for non-yielding assets like gold. Gold prices anchored at $4,500 as S&P Global says U.S. economic activity continues to slow
• Positive Sentiment: Several analysts remain constructive on gold’s longer-term trend, citing consolidation after a strong rally and expectations for another leg higher over time. Gold’s ‘golden decade’ enters next phase with new $8,900 target – In Gold We Trust Report
• Neutral Sentiment: Gold is also trading in a tightening technical range, which suggests investors are waiting for a breakout before the next major move. Gold (XAU/USD) Price Forecast: Momentum Builds Inside Tightening Range
• Negative Sentiment: Rising or elevated Treasury yields are weighing on gold throughout the latest updates, since gold does not pay interest and competes poorly when bond yields move higher. Gold Edges Lower Amid Slightly Higher U.S. Treasury Yields
• Negative Sentiment: Safe-haven demand has also cooled as U.S.-Iran tensions eased, reducing one of the recent supports behind gold’s rally. Gold (XAUUSD) & Silver Price Forecast: Gold Reclaims $4,531 Channel Floor as Silver Defends $75.33 — Reversal Ahead?
• Negative Sentiment: Technical commentary suggests gold has been under short-term pressure after losing key support levels, keeping near-term downside risk in focus for bullion-linked funds such as GLDM. Gold price faces downside risk on break of 200-DMA and $4,350 critical support – Societe Generale

SPDR Gold MiniShares Trust Stock Down 0.1%

Shares of GLDM opened at $89.87 on Friday. The stock has a 50-day moving average of $92.88 and a two-hundred day moving average of $91.47. SPDR Gold MiniShares Trust has a one year low of $64.46 and a one year high of $109.74.

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.