SPDR Gold MiniShares Trust $GLDM Stake Decreased by Cedar Point Capital Partners LLC

Cedar Point Capital Partners LLC decreased its position in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 11.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 71,816 shares of the company’s stock after selling 9,198 shares during the period. SPDR Gold MiniShares Trust comprises about 3.9% of Cedar Point Capital Partners LLC’s holdings, making the stock its 10th largest holding. Cedar Point Capital Partners LLC’s holdings in SPDR Gold MiniShares Trust were worth $6,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GLDM. Mizuho Bank Ltd. purchased a new position in shares of SPDR Gold MiniShares Trust during the 3rd quarter worth approximately $137,763,000. Bank of America Corp DE grew its holdings in shares of SPDR Gold MiniShares Trust by 28.6% during the 3rd 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 during the period. Payden & Rygel purchased a new position in shares of SPDR Gold MiniShares Trust during the 4th quarter worth approximately $110,981,000. Argos Wealth Advisors LLC purchased a new position in shares of SPDR Gold MiniShares Trust during the 4th quarter worth approximately $67,468,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of SPDR Gold MiniShares Trust by 1,874.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 789,755 shares of the company’s stock worth $67,421,000 after acquiring an additional 749,763 shares during the period.

SPDR Gold MiniShares Trust Trading Down 4.1%

GLDM stock opened at $80.77 on Thursday. SPDR Gold MiniShares Trust has a fifty-two week low of $64.46 and a fifty-two week high of $109.74. The business’s 50 day moving average price is $91.25 and its two-hundred day moving average price is $92.16.

Key Stories Impacting SPDR Gold MiniShares Trust

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

• Neutral Sentiment: Some analysts still see long-term support for gold, citing central bank buying and the possibility that the broader bull market remains intact despite the recent correction.
• Negative Sentiment: Gold has broken below key technical levels, including the 200-day moving average and prior swing lows, signaling more downside risk and weakening near-term momentum. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Negative Sentiment: Hot U.S. CPI data reinforced expectations that the Federal Reserve may keep rates restrictive for longer, pressuring gold and related ETFs lower. Gold (XAUUSD) Price Forecast: Gold Price Tumbles as Hot CPI Reinforces Fed Rate Hike Path
• Negative Sentiment: Market commentary across multiple outlets says gold is likely to remain weak in the near term, with traders warning the selloff could continue if yields stay elevated and rate-hike odds rise.

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.