SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Hits New 1-Year High – Time to Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) hit a new 52-week high during trading on Tuesday . The company traded as high as $54.34 and last traded at $54.31, with a volume of 400625 shares. The stock had previously closed at $53.90.

SPDR Gold MiniShares Trust Price Performance

The business’s 50-day moving average price is $51.30 and its two-hundred day moving average price is $48.41.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLDM. CENTRAL TRUST Co boosted its holdings in shares of SPDR Gold MiniShares Trust by 1.3% during the third quarter. CENTRAL TRUST Co now owns 14,935 shares of the company’s stock worth $779,000 after purchasing an additional 197 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in SPDR Gold MiniShares Trust by 7.2% during the third quarter. Exchange Traded Concepts LLC now owns 3,125 shares of the company’s stock worth $163,000 after buying an additional 210 shares during the period. Patten Group Inc. boosted its stake in SPDR Gold MiniShares Trust by 2.7% in the 3rd quarter. Patten Group Inc. now owns 8,195 shares of the company’s stock worth $427,000 after buying an additional 212 shares during the last quarter. Laidlaw Wealth Management LLC grew its holdings in SPDR Gold MiniShares Trust by 3.5% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 10,012 shares of the company’s stock valued at $461,000 after buying an additional 338 shares during the period. Finally, International Private Wealth Advisors LLC increased its stake in shares of SPDR Gold MiniShares Trust by 4.4% during the 2nd quarter. International Private Wealth Advisors LLC now owns 8,748 shares of the company’s stock valued at $403,000 after acquiring an additional 372 shares during the last quarter.

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.