Nvest Financial LLC Invests $969,000 in SPDR Gold MiniShares Trust $GLDM

Nvest Financial LLC purchased a new stake in SPDR Gold MiniShares Trust (NYSEARCA:GLDM) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,450 shares of the company’s stock, valued at approximately $969,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its position in SPDR Gold MiniShares Trust by 22.6% during the fourth quarter. Morgan Stanley now owns 10,562,081 shares of the company’s stock worth $901,685,000 after buying an additional 1,943,672 shares during the period. Wells Fargo & Company MN grew its holdings in shares of SPDR Gold MiniShares Trust by 54.3% in the 4th 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 during the period. Evoke Wealth LLC grew its holdings in shares of SPDR Gold MiniShares Trust by 1.7% in the 4th quarter. Evoke Wealth LLC now owns 7,374,785 shares of the company’s stock worth $629,586,000 after acquiring an additional 123,123 shares during the period. Bank of America Corp DE increased its stake in SPDR Gold MiniShares Trust by 28.6% in 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 in the last quarter. Finally, UBS Group AG raised its holdings in SPDR Gold MiniShares Trust by 2.9% during the fourth quarter. UBS Group AG now owns 3,412,428 shares of the company’s stock worth $291,319,000 after purchasing an additional 96,624 shares during the last quarter.

SPDR Gold MiniShares Trust Stock Performance

GLDM opened at $81.54 on Monday. SPDR Gold MiniShares Trust has a one year low of $64.71 and a one year high of $109.74. The business’s fifty day moving average is $87.19 and its two-hundred day moving average is $92.02.

SPDR Gold MiniShares Trust News Summary

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

• Positive Sentiment: Gold prices jumped after the weak U.S. employment report, which pressured the dollar and lifted expectations that the Fed may not hike rates soon. Gold and silver hold post-NFP gains as hike bets move out – Kitco PM Report
• Positive Sentiment: Gold regained technical support levels and is showing signs of recovery, suggesting momentum may be stabilizing after the recent pullback. Gold (XAU/USD) Price Forecast: Above Trendline Signals Recovery
• Positive Sentiment: Central banks bought a net 41 tonnes of gold in May, reinforcing the longer-term demand backdrop for the metal. Central banks boost gold reserves with net 41 tonnes purchased in May – World Gold Council
• Positive Sentiment: HSBC and State Street both pointed to continued upside for gold, citing central bank buying, ETF inflows, and diversification demand as structural supports. ‘We anticipate further upside for gold by year-end’ – HSBC’s Sels and Ku
• Positive Sentiment: Analysts say gold is near fair value and could be setting up for another leg higher, while State Street’s base case sees gold reaching as high as $5,500/oz by early 2027. State Street’s baseline scenario sees gold price as high as $5,500/oz by Q1 2027

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.