SPDR Gold MiniShares Trust $GLDM Shares Sold by Piedmont Capital Management LLC

Piedmont Capital Management LLC lowered its position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 92.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,681 shares of the company’s stock after selling 206,622 shares during the quarter. SPDR Gold MiniShares Trust comprises approximately 0.6% of Piedmont Capital Management LLC’s holdings, making the stock its 22nd largest holding. Piedmont Capital Management LLC’s holdings in SPDR Gold MiniShares Trust were worth $1,260,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of SPDR Gold MiniShares Trust by 288.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock worth $25,000 after purchasing an additional 199 shares during the last quarter. HHM Wealth Advisors LLC boosted its stake in SPDR Gold MiniShares Trust by 236.7% during the 1st quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock valued at $28,000 after purchasing an additional 213 shares in the last quarter. Godfrey Financial Associates Inc. acquired a new position in SPDR Gold MiniShares Trust during the fourth quarter worth about $26,000. Root Financial Partners LLC raised its holdings in shares of SPDR Gold MiniShares Trust by 548.2% in the 4th quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock worth $31,000 after purchasing an additional 307 shares in the last quarter. Finally, Gould Capital LLC increased its holdings in shares of SPDR Gold MiniShares Trust by 377.8% in the third quarter. Gould Capital LLC now owns 516 shares of the company’s stock valued at $39,000 after buying an additional 408 shares in the last quarter.

SPDR Gold MiniShares Trust Trading Down 0.1%

NYSEARCA:GLDM opened at $88.11 on Tuesday. SPDR Gold MiniShares Trust has a 1-year low of $67.65 and a 1-year high of $109.74. The stock has a fifty day simple moving average of $83.32 and a 200 day simple moving average of $89.63.

Trending Headlines about SPDR Gold MiniShares Trust

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

• Positive Sentiment: Julius Baer said the Treasury Department’s decision to double planned bond buybacks is renewing concerns about U.S. fiscal sustainability and potential dollar debasement. Those concerns could support gold and GLDM over the longer term. Treasury’s ramped-up bond buybacks soften the U.S. dollar and boost the gold price – Julius Baer
• Positive Sentiment: Fund manager Kevin Smith argued that expanding global money supply and unsustainable government debt could sustain gold’s secular bull market, with substantially higher prices possible over time. This supports the long-term investment case for GLDM despite near-term volatility. Gold price is going to $20,000 as the Fed is ‘powerless’ to fight inflation, miners offer greatest upside
• Neutral Sentiment: Renewed U.S.-Iran and Gulf-region tensions boosted oil prices and created safe-haven demand for gold, but the resulting inflation risk also lifted interest-rate expectations and Treasury yields. The competing forces produced a mixed outlook for GLDM. Gold price slips as oil spike, Fed-hike odds hit risk appetite – Kitco PM Report
• Negative Sentiment: Comments from Fed Chair Kevin Warsh were viewed as hawkish, increasing the probability of a September rate hike. Higher rates and yields raise the opportunity cost of holding gold and have driven a sharp pullback in gold ETFs, including GLDM. Gold ETF Inflows Reverse Course as Warsh’s Hawkish Speech Crushes GLDM’s Summer Rally
• Negative Sentiment: Analysts said gold is testing important technical support after the Jackson Hole-driven selloff. A sustained break below support could encourage further profit-taking and add pressure to GLDM. Gold Price Forecast: $4,510 Support Faces a Critical Test

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.