Assetmark Inc. Trims Stock Position in SPDR Gold MiniShares Trust $GLDM

Assetmark Inc. lessened its stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 33.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,338 shares of the company’s stock after selling 188,397 shares during the period. Assetmark Inc. owned 0.11% of SPDR Gold MiniShares Trust worth $34,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in GLDM. HHM Wealth Advisors LLC increased its holdings in shares of SPDR Gold MiniShares Trust by 236.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 303 shares of the company’s stock valued at $28,000 after acquiring an additional 213 shares during the period. Godfrey Financial Associates Inc. acquired a new stake in SPDR Gold MiniShares Trust during the 4th quarter worth $26,000. Root Financial Partners LLC boosted its stake in SPDR Gold MiniShares Trust by 548.2% during the 4th quarter. Root Financial Partners LLC now owns 363 shares of the company’s stock worth $31,000 after purchasing an additional 307 shares during the period. Networth Advisors LLC purchased a new position in SPDR Gold MiniShares Trust during the 4th quarter worth $33,000. Finally, Gould Capital LLC grew its position in SPDR Gold MiniShares Trust by 377.8% during the 3rd quarter. Gould Capital LLC now owns 516 shares of the company’s stock worth $39,000 after purchasing an additional 408 shares during the last quarter.

Key Headlines Impacting SPDR Gold MiniShares Trust

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

• Positive Sentiment: Gold bounced toward session highs near $4,000 after better-than-expected University of Michigan consumer sentiment data, while one-year inflation expectations eased, helping bullion recover from earlier losses. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull trend is still intact despite the pullback, with commentary suggesting the correction may be nearing completion and that central bank buying remains a long-term support factor. Gold’s Pullback Doesn’t Mean the Bull Market Is Over Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and options in the gold-fund space, but this is unlikely to be a major near-term driver for GLDM. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold remains under pressure overall, with multiple reports citing weak technicals, stronger Treasury yields, a firmer U.S. dollar, and better economic data as reasons traders are pressing the metal below support near $4,000. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support

SPDR Gold MiniShares Trust Stock Performance

NYSEARCA GLDM opened at $79.45 on Friday. The firm’s fifty day moving average is $84.88 and its two-hundred day moving average is $91.50. SPDR Gold MiniShares Trust has a one year low of $64.71 and a one year high of $109.74.

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.