WealthNavi Inc. Buys 1,588,202 Shares of SPDR Gold MiniShares Trust $GLDM

WealthNavi Inc. raised its stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 98.4% during the third quarter, Holdings Channel reports. The firm owned 3,202,560 shares of the company’s stock after purchasing an additional 1,588,202 shares during the period. SPDR Gold MiniShares Trust makes up about 2.0% of WealthNavi Inc.’s holdings, making the stock its 9th biggest holding. WealthNavi Inc.’s holdings in SPDR Gold MiniShares Trust were worth $263,186,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GLDM. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of SPDR Gold MiniShares Trust by 1.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 13,601 shares of the company’s stock worth $1,261,000 after buying an additional 157 shares during the last quarter. Beacon Financial Advisory LLC boosted its holdings in SPDR Gold MiniShares Trust by 3.6% in the second quarter. Beacon Financial Advisory LLC now owns 4,658 shares of the company’s stock valued at $370,000 after acquiring an additional 163 shares during the last quarter. Cassilly Financial Group LLC boosted its holdings in SPDR Gold MiniShares Trust by 2.7% in the third quarter. Cassilly Financial Group LLC now owns 6,782 shares of the company’s stock valued at $557,000 after acquiring an additional 180 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in SPDR Gold MiniShares Trust by 288.4% in the first quarter. PNC Financial Services Group Inc. now owns 268 shares of the company’s stock valued at $25,000 after acquiring an additional 199 shares during the last quarter. Finally, Carnegie Investment Counsel boosted its holdings in SPDR Gold MiniShares Trust by 6.0% in the first quarter. Carnegie Investment Counsel now owns 3,550 shares of the company’s stock valued at $329,000 after acquiring an additional 200 shares during the last quarter.

Key SPDR Gold MiniShares Trust News

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

• Positive Sentiment: Gold rebounded after early losses as declining crude oil prices eased inflation concerns and reduced expectations for additional Fed tightening, encouraging renewed precious-metals buying. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Gold is attracting safe-haven demand as weak U.S. housing data raises concerns about the economy, while prices continue to hold the important $4,000-per-ounce support level. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: Despite recent weakness, State Street said gold could recover substantially, with a potential path toward $5,500 by early next year. That outlook supports longer-term demand for GLDM. Downside risks are building in gold, but prices still have a path to $5,000
• Neutral Sentiment: Gold briefly weakened but recovered toward session highs even as consumer confidence improved more than expected. Investors remain focused on Wednesday’s Federal Reserve decision and its guidance for future interest rates. Gold price shoots to session high after Consumer Confidence rises
• Negative Sentiment: Analysts warn that gold must establish a durable floor near $4,000 or risk a deeper correction. The metal’s recent two-month decline has raised concerns about weakening momentum, even though prices appear oversold. Gold price needs to build a floor here or face a deeper correction
• Negative Sentiment: Potential for another Fed rate increase later this year, elevated oil prices and Middle East uncertainty could continue to pressure gold by supporting inflation and interest-rate expectations. Gold edges lower as investors mull potential Fed rate hike

SPDR Gold MiniShares Trust Stock Performance

Shares of NYSEARCA:GLDM opened at $80.32 on Wednesday. The business has a 50-day moving average of $84.83 and a two-hundred day moving average of $89.18. SPDR Gold MiniShares Trust has a 12 month low of $77.50 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.