Bank of New York Mellon Corp Purchases 19,791 Shares of SPDR Gold MiniShares Trust $GLDM

Bank of New York Mellon Corp raised its position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 840,575 shares of the company’s stock after purchasing an additional 19,791 shares during the period. Bank of New York Mellon Corp’s holdings in SPDR Gold MiniShares Trust were worth $71,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust during the fourth quarter worth $26,000. Accredited Wealth Management LLC boosted its stake in SPDR Gold MiniShares Trust by 174.4% during the third quarter. Accredited Wealth Management LLC now owns 343 shares of the company’s stock valued at $26,000 after buying an additional 218 shares during the period. Root Financial Partners LLC boosted its stake in SPDR Gold MiniShares Trust by 548.2% during the fourth quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock valued at $31,000 after buying an additional 307 shares during the period. Networth Advisors LLC bought a new stake in SPDR Gold MiniShares Trust during the fourth quarter valued at $33,000. Finally, Gould Capital LLC boosted its stake in SPDR Gold MiniShares Trust by 377.8% during the third quarter. Gould Capital LLC now owns 516 shares of the company’s stock valued at $39,000 after buying an additional 408 shares during the period.

Key SPDR Gold MiniShares Trust News

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

• Negative Sentiment: Gold has broken below key technical levels, including the 200-day moving average, with analysts warning of further downside and potential tests of lower support. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds After Breakdown
• Negative Sentiment: Broader weakness in precious metals, including platinum, palladium and silver, suggests the selloff is not isolated to gold and reflects weaker sentiment across the sector. Platinum, palladium extend losses as Bank of America maintains bullish year-end price outlook
• Negative Sentiment: Stronger-than-expected U.S. economic data and rising Fed rate-hike expectations are pressuring gold by supporting the dollar and Treasury yields, reducing gold’s appeal as a non-yielding asset. Gold News: Fed Rate Hike Expectations Put Gold Market Under Pressure
• Negative Sentiment: Recent reports say gold continues to struggle to attract buyers as markets price in firmer rates and less near-term safe-haven demand, reinforcing the bearish tone. Gold price continues to struggle as U.S. Existing Home Sales rise 3.2% in May
• Neutral Sentiment: Some analysts still see a longer-term bullish case for gold, helped by central-bank buying such as China’s continued reserve accumulation, but these factors are not offsetting the current technical and macro pressure. China increases gold reserves by 9.95 tonnes in May for 19th straight month of purchases
• Neutral Sentiment: Gold is still drawing some dip-buying and support from geopolitical uncertainty, but that has only partially stabilized prices rather than reversed the downtrend. Gold holds near $4,330 as oil pares Iran-Israel risk premium – Kitco PM Report

SPDR Gold MiniShares Trust Price Performance

NYSEARCA:GLDM opened at $84.26 on Wednesday. SPDR Gold MiniShares Trust has a 52-week low of $64.46 and a 52-week high of $109.74. The stock has a fifty day moving average of $91.42 and a 200 day moving average of $92.16.

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.