SPDR Gold MiniShares Trust $GLDM Stake Lowered by Piedmont Capital Management LLC

Piedmont Capital Management LLC reduced its stake in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 228,164 shares of the company’s stock after selling 8,187 shares during the period. SPDR Gold MiniShares Trust accounts for 9.9% of Piedmont Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Piedmont Capital Management LLC owned 0.07% of SPDR Gold MiniShares Trust worth $19,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GLDM. Wells Fargo & Company MN grew its holdings in shares of SPDR Gold MiniShares Trust by 54.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock valued at $675,594,000 after acquiring an additional 2,785,608 shares in the last quarter. Morgan Stanley grew its holdings 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 acquiring an additional 1,943,672 shares in the last quarter. Mizuho Bank Ltd. purchased a new position in shares of SPDR Gold MiniShares Trust during the 3rd quarter valued at $137,763,000. Bank of America Corp DE grew its holdings 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 acquiring an additional 1,636,398 shares in the last quarter. Finally, Payden & Rygel purchased a new position in shares of SPDR Gold MiniShares Trust during the 4th quarter valued at $110,981,000.

SPDR Gold MiniShares Trust News Summary

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

• Positive Sentiment: Gold and silver prices are firmer as U.S.-Iran deal hopes push oil lower, Treasury yields ease, and investors rotate back into precious metals. Precious metals firm as crude slides, stocks rise on U.S.-Iran talks – Kitco PM Report
• Positive Sentiment: Gold held the important $4,000 area and is attracting buyers as analysts look for signs the selloff may be bottoming. Gold holds key $4,000 support as analysts watch for signs of a bottom
• Positive Sentiment: Gold rebounded after a failed breakdown at support, with chart watchers saying the metal may be trying to stabilize. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
• Neutral Sentiment: Later-day reports said gold was steady near $4,200 as traders balanced softer inflation expectations against improving U.S. consumer sentiment, keeping the near-term outlook mixed. Spot gold hovers near $4,200/oz after preliminary Consumer Sentiment rises to 48.9, one-year inflation expectations dip to 4.6%
• Negative Sentiment: Several reports also warned that gold remains under pressure from higher Fed rate expectations and signs of a deeper downtrend, which could continue to weigh on GLDM if bullion fails to hold support. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor

SPDR Gold MiniShares Trust Stock Performance

SPDR Gold MiniShares Trust stock opened at $83.32 on Monday. The company’s fifty day simple moving average is $90.84 and its 200-day simple moving average is $92.19. SPDR Gold MiniShares Trust has a 12 month low of $64.46 and a 12 month 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.