SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Hits New 1-Year High – Here’s Why

SPDR Gold MiniShares Trust (NYSEARCA:GLDM)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.11 and last traded at $61.79, with a volume of 8670832 shares. The stock had previously closed at $61.89.

SPDR Gold MiniShares Trust Price Performance

The company has a fifty day simple moving average of $57.79 and a 200-day simple moving average of $54.47.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

Hedge funds have recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its position in shares of SPDR Gold MiniShares Trust by 0.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 21,412 shares of the company’s stock valued at $1,130,000 after acquiring an additional 185 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of SPDR Gold MiniShares Trust by 8.9% in the fourth quarter. Allworth Financial LP now owns 2,636 shares of the company’s stock valued at $144,000 after purchasing an additional 216 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of SPDR Gold MiniShares Trust by 5.4% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 4,550 shares of the company’s stock worth $237,000 after buying an additional 232 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of SPDR Gold MiniShares Trust by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,094 shares of the company’s stock valued at $473,000 after buying an additional 257 shares in the last quarter. Finally, Waverly Advisors LLC grew its holdings in shares of SPDR Gold MiniShares Trust by 4.5% during the fourth quarter. Waverly Advisors LLC now owns 6,329 shares of the company’s stock valued at $329,000 after buying an additional 273 shares in the last quarter.

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.