Hobbs Group Advisors LLC Sells 9,110 Shares of SPDR Gold MiniShares Trust $GLDM

Hobbs Group Advisors LLC lowered its position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 16.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,547 shares of the company’s stock after selling 9,110 shares during the period. SPDR Gold MiniShares Trust accounts for about 1.3% of Hobbs Group Advisors LLC’s holdings, making the stock its 15th biggest position. Hobbs Group Advisors LLC’s holdings in SPDR Gold MiniShares Trust were worth $4,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in SPDR Gold MiniShares Trust by 54.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock worth $675,594,000 after purchasing an additional 2,785,608 shares in the last quarter. Morgan Stanley grew its position in shares of SPDR Gold MiniShares Trust by 22.6% during the 4th quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock valued at $901,685,000 after purchasing an additional 1,943,672 shares in the last quarter. Bank of America Corp DE grew its position in shares of SPDR Gold MiniShares Trust by 28.6% during 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 purchasing an additional 1,636,398 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of SPDR Gold MiniShares Trust by 2,167.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,516,600 shares of the company’s stock worth $140,574,000 after purchasing an additional 1,449,700 shares during the period. Finally, Payden & Rygel bought a new position in shares of SPDR Gold MiniShares Trust in the fourth quarter worth $110,981,000.

Trending Headlines about SPDR Gold MiniShares Trust

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

• Positive Sentiment: Gold and silver rebounded in late U.S. trading after softer inflation data reduced near-term concerns about additional interest-rate tightening. Because GLDM is designed to track the performance of gold bullion, stronger spot-gold prices are supportive of the fund. Gold holds above $4,100 as softer PCE offsets hawkish Fed
• Positive Sentiment: Gold initially moved higher after the Fed held rates steady, while weaker second-quarter GDP growth increased expectations that economic softness could eventually support a less restrictive policy stance. Gold Price Analysis – Gold Gaps Higher as FOMC Holds Interest Rate
• Neutral Sentiment: Analysts said the Fed’s “hawkish hold” stabilized precious metals but may keep gold in a consolidation range until policymakers provide clearer guidance at the September meeting. Gold is holding above the important $4,000 support level, but a sustained move above roughly $4,200 is viewed as necessary to confirm a broader bullish reversal. Fed’s hawkish hold stabilizes gold and silver
• Positive Sentiment: Underlying demand remains supportive: the World Gold Council reported resilient central-bank buying and strong Asian demand, while Royal Mint data pointed to renewed retail interest in precious metals after the recent selloff. Gold demand proves resilient despite Q2 selloff
• Negative Sentiment: Upside remains limited by firm Treasury yields, resilient jobless-claims data, elevated oil prices and the Fed’s continued tightening bias. Consumers also continue selling unwanted jewelry at elevated prices, adding some supply pressure to the gold market. Investors are still cashing in unwanted gold jewelry

SPDR Gold MiniShares Trust Trading Up 1.6%

Shares of GLDM stock opened at $81.33 on Friday. SPDR Gold MiniShares Trust has a 52-week low of $65.13 and a 52-week high of $109.74. The business’s fifty day moving average is $82.95 and its 200 day moving average is $91.11.

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.