Financial Life Advisors Sells 22,528 Shares of SPDR Gold MiniShares Trust $GLDM

Financial Life Advisors cut its holdings in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 34.2% during the second quarter, Holdings Channel.com reports. The firm owned 43,332 shares of the company’s stock after selling 22,528 shares during the period. SPDR Gold MiniShares Trust makes up 1.0% of Financial Life Advisors’ holdings, making the stock its 22nd biggest holding. Financial Life Advisors’ holdings in SPDR Gold MiniShares Trust were worth $3,441,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Silver Oak Securities Incorporated raised its stake in SPDR Gold MiniShares Trust by 0.7% in the first quarter. Silver Oak Securities Incorporated now owns 14,763 shares of the company’s stock worth $1,368,000 after buying an additional 108 shares in the last quarter. Verus Capital Partners LLC increased its holdings in shares of SPDR Gold MiniShares Trust by 1.1% in the 4th quarter. Verus Capital Partners LLC now owns 10,046 shares of the company’s stock valued at $858,000 after acquiring an additional 111 shares during the period. Absolute Capital Management LLC increased its holdings in shares of SPDR Gold MiniShares Trust by 2.3% in the 4th quarter. Absolute Capital Management LLC now owns 4,956 shares of the company’s stock valued at $423,000 after acquiring an additional 112 shares during the period. One Charles Private Wealth Services LLC raised its position in shares of SPDR Gold MiniShares Trust by 0.5% in the 4th quarter. One Charles Private Wealth Services LLC now owns 25,976 shares of the company’s stock worth $2,218,000 after acquiring an additional 120 shares in the last quarter. Finally, Waterloo Capital L.P. raised its position in shares of SPDR Gold MiniShares Trust by 0.9% in the 4th quarter. Waterloo Capital L.P. now owns 14,003 shares of the company’s stock worth $1,195,000 after acquiring an additional 121 shares in the last quarter.

SPDR Gold MiniShares Trust Stock Performance

Shares of NYSEARCA GLDM opened at $88.11 on Tuesday. SPDR Gold MiniShares Trust has a 1-year low of $67.65 and a 1-year high of $109.74. The business has a fifty day moving average price of $83.32 and a 200 day moving average price of $89.63.

SPDR Gold MiniShares Trust News Roundup

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

• Positive Sentiment: Julius Baer said the Treasury Department’s decision to double planned bond buybacks is renewing concerns about U.S. fiscal sustainability and potential dollar debasement. Those concerns could support gold and GLDM over the longer term. Treasury’s ramped-up bond buybacks soften the U.S. dollar and boost the gold price – Julius Baer
• Positive Sentiment: Fund manager Kevin Smith argued that expanding global money supply and unsustainable government debt could sustain gold’s secular bull market, with substantially higher prices possible over time. This supports the long-term investment case for GLDM despite near-term volatility. Gold price is going to $20,000 as the Fed is ‘powerless’ to fight inflation, miners offer greatest upside
• Neutral Sentiment: Renewed U.S.-Iran and Gulf-region tensions boosted oil prices and created safe-haven demand for gold, but the resulting inflation risk also lifted interest-rate expectations and Treasury yields. The competing forces produced a mixed outlook for GLDM. Gold price slips as oil spike, Fed-hike odds hit risk appetite – Kitco PM Report
• Negative Sentiment: Comments from Fed Chair Kevin Warsh were viewed as hawkish, increasing the probability of a September rate hike. Higher rates and yields raise the opportunity cost of holding gold and have driven a sharp pullback in gold ETFs, including GLDM. Gold ETF Inflows Reverse Course as Warsh’s Hawkish Speech Crushes GLDM’s Summer Rally
• Negative Sentiment: Analysts said gold is testing important technical support after the Jackson Hole-driven selloff. A sustained break below support could encourage further profit-taking and add pressure to GLDM. Gold Price Forecast: $4,510 Support Faces a Critical Test

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.