Main Street Research LLC Acquires 7,135 Shares of SPDR Gold MiniShares Trust $GLDM

Main Street Research LLC grew its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 1.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 469,451 shares of the company’s stock after purchasing an additional 7,135 shares during the period. SPDR Gold MiniShares Trust comprises approximately 2.5% of Main Street Research LLC’s holdings, making the stock its 17th largest holding. Main Street Research LLC’s holdings in SPDR Gold MiniShares Trust were worth $43,513,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wells Fargo & Company MN grew its holdings in shares of 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 valued at $675,594,000 after acquiring an additional 2,785,608 shares in the last quarter. Morgan Stanley raised its holdings in SPDR Gold MiniShares Trust by 22.6% during the fourth quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock worth $901,685,000 after acquiring an additional 1,943,672 shares in the last quarter. Bank of America Corp DE raised its holdings in SPDR Gold MiniShares Trust by 28.6% during the third quarter. Bank of America Corp DE now owns 7,367,296 shares of the company’s stock worth $563,230,000 after acquiring an additional 1,636,398 shares in the last quarter. Payden & Rygel acquired a new position in SPDR Gold MiniShares Trust during the fourth quarter valued at approximately $110,981,000. Finally, Resona Asset Management Co. Ltd. boosted its position in SPDR Gold MiniShares Trust by 45.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 3,236,300 shares of the company’s stock valued at $289,066,000 after purchasing an additional 1,006,700 shares during the last quarter.

SPDR Gold MiniShares Trust Stock Performance

GLDM stock opened at $81.54 on Friday. The business has a 50 day moving average price of $86.32 and a two-hundred day moving average price of $91.90. SPDR Gold MiniShares Trust has a twelve month low of $64.71 and a twelve month high of $109.74.

Key Stories Impacting SPDR Gold MiniShares Trust

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

• Positive Sentiment: Gold reclaimed support above $4,100/oz, with multiple reports pointing to a rebound in spot prices and renewed momentum after Wednesday’s selloff. Gold rebounds above $4,100 as Fed minutes, Hormuz risk keep yields firm – Kitco AM Report
• Positive Sentiment: Safe-haven buying improved as renewed fighting in the Middle East and U.S.-Iran escalation kept geopolitical risk elevated, supporting gold-backed funds like GLDM. Gold Rises on Renewed Middle East Tensions
• Positive Sentiment: Gold also pushed to session highs after weaker U.S. housing data, reinforcing the case for defensive commodity exposure. Gold price pushes to session highs as U.S. existing home sales drop 2.4%
• Neutral Sentiment: Some analysts still expect gold to stay rangebound in the near term because hawkish Fed expectations and firm yields could cap the upside. Gold prices will be rangebound through the summer – Metals Focus
• Neutral Sentiment: Technical traders are watching for confirmation of a bullish reversal, but a “death cross” warning and resistance near recent highs suggest volatility may continue. Gold (XAU/USD) Price Forecast: Bullish Reversal Tests Key Resistance Levels
• Negative Sentiment: Earlier reports noted pressure from rising Treasury yields, a firmer U.S. dollar, and hawkish Fed minutes, which had weighed on gold before the rebound. Gold slides as Fed minutes, Hormuz oil spike lift yields – Kitco PM Report

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.