SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Hits New 52-Week High – Still a Buy?

Shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) reached a new 52-week high during trading on Wednesday . The stock traded as high as $62.11 and last traded at $61.79, with a volume of 8670832 shares traded. The stock had previously closed at $61.89.

SPDR Gold MiniShares Trust Trading Down 0.2 %

The stock’s 50-day moving average is $57.79 and its 200 day moving average is $54.47.

Hedge Funds Weigh In On SPDR Gold MiniShares Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in SPDR Gold MiniShares Trust by 109.5% during the fourth quarter. Bank of America Corp DE now owns 4,683,654 shares of the company’s stock valued at $243,503,000 after purchasing an additional 2,447,630 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of SPDR Gold MiniShares Trust during the 4th quarter valued at about $91,357,000. Quadrature Capital Ltd acquired a new stake in shares of SPDR Gold MiniShares Trust during the 3rd quarter valued at about $84,714,000. State Street Corp increased its holdings in SPDR Gold MiniShares Trust by 43.2% in the third quarter. State Street Corp now owns 3,226,956 shares of the company’s stock worth $168,221,000 after buying an additional 973,410 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in SPDR Gold MiniShares Trust during the fourth quarter valued at approximately $43,698,000.

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.