Abound Financial LLC Sells 69,930 Shares of SPDR Gold MiniShares Trust $GLDM

Abound Financial LLC lowered its holdings in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 66.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,673 shares of the company’s stock after selling 69,930 shares during the period. SPDR Gold MiniShares Trust makes up about 0.7% of Abound Financial LLC’s holdings, making the stock its 25th biggest position. Abound Financial LLC’s holdings in SPDR Gold MiniShares Trust were worth $3,045,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of SPDR Gold MiniShares Trust by 54.3% during the fourth quarter. Wells Fargo & Company MN now owns 7,913,715 shares of the company’s stock worth $675,594,000 after acquiring an additional 2,785,608 shares in the last quarter. Morgan Stanley grew its position in shares of SPDR Gold MiniShares Trust by 22.6% in the fourth quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock valued at $901,685,000 after purchasing an additional 1,943,672 shares in the last quarter. Mizuho Bank Ltd. purchased a new position in shares of SPDR Gold MiniShares Trust in the third quarter valued at $137,763,000. Bank of America Corp DE raised its stake 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 valued at $563,230,000 after purchasing an additional 1,636,398 shares during the period. Finally, Payden & Rygel purchased a new stake in SPDR Gold MiniShares Trust during the 4th quarter worth about $110,981,000.

Trending Headlines about SPDR Gold MiniShares Trust

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

• Positive Sentiment: Gold rose sharply as the Hormuz deal and broader Middle East de-escalation reduced safe-haven uncertainty, while weaker oil prices helped cool inflation fears and support gold demand. Gold clears $4,300 as Hormuz deal cuts oil, yield pressure – Kitco PM Report
• Positive Sentiment: Comex gold settled 2.7% higher and silver gained nearly 3.3%, signaling strong momentum in precious metals that directly supports GLDM. Comex Gold Settles 2.68% Higher at $4328.00
• Positive Sentiment: Analysts said the Iran-U.S. deal weakened the dollar and increased hopes for Federal Reserve easing, both of which are supportive for gold prices and gold-backed ETFs. Gold (XAUUSD) Price Forecast: Gold Rally Builds as Iran Deal Cuts Rate Hike Bets
• Positive Sentiment: Gold held near session highs after weak New York manufacturing data and rising input prices reinforced the case for easier policy and stronger precious-metals demand. Gold prices holding near session highs as Empire State Survey falls to 5.7 in June
• Neutral Sentiment: Some reports noted that while the rally is strong, inflation and rate-hike expectations could still limit further upside if markets reassess Fed policy. Gold and silver rally after Iran-U.S. deal, but face headwinds from rate hike expectations – Heraeus

SPDR Gold MiniShares Trust Price Performance

Shares of GLDM opened at $85.51 on Tuesday. SPDR Gold MiniShares Trust has a 52-week low of $64.46 and a 52-week high of $109.74. The stock’s 50-day simple moving average is $90.70 and its 200 day simple moving average is $92.22.

SPDR Gold MiniShares Trust Company 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.