SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Reaches New 12-Month High – Still a Buy?

Shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $60.19 and last traded at $60.17, with a volume of 3815969 shares. The stock had previously closed at $59.44.

SPDR Gold MiniShares Trust Stock Down 0.1 %

The business’s fifty day moving average is $56.67 and its 200 day moving average is $53.82.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Brookstone Capital Management boosted its holdings in SPDR Gold MiniShares Trust by 25.5% in the 4th quarter. Brookstone Capital Management now owns 99,042 shares of the company’s stock worth $5,149,000 after buying an additional 20,124 shares during the period. Allworth Financial LP grew its position 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. FMR LLC lifted its holdings in SPDR Gold MiniShares Trust by 50.2% during the 3rd quarter. FMR LLC now owns 7,425 shares of the company’s stock worth $387,000 after purchasing an additional 2,480 shares in the last quarter. Theory Financial LLC purchased a new stake in SPDR Gold MiniShares Trust during the 4th quarter worth about $491,000. Finally, Lodestar Private Asset Management LLC grew its holdings in SPDR Gold MiniShares Trust by 5.6% during the 4th quarter. Lodestar Private Asset Management LLC now owns 77,733 shares of the company’s stock valued at $4,041,000 after buying an additional 4,097 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.