NavPoint Financial Inc. Trims Position in SPDR Gold MiniShares Trust (NYSEARCA:GLDM)

NavPoint Financial Inc. reduced its stake in shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) by 13.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 298,529 shares of the company’s stock after selling 45,362 shares during the quarter. SPDR Gold MiniShares Trust makes up about 12.5% of NavPoint Financial Inc.’s holdings, making the stock its largest position. NavPoint Financial Inc.’s holdings in SPDR Gold MiniShares Trust were worth $15,562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GLDM. Confluence Investment Management LLC grew its holdings in shares of SPDR Gold MiniShares Trust by 2.8% during the third quarter. Confluence Investment Management LLC now owns 621,956 shares of the company’s stock valued at $32,423,000 after purchasing an additional 17,231 shares during the last quarter. Seven Post Investment Office LP bought a new position in shares of SPDR Gold MiniShares Trust during the third quarter worth about $221,000. Walkner Condon Financial Advisors LLC increased its holdings in shares of SPDR Gold MiniShares Trust by 10.8% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 85,198 shares of the company’s stock worth $4,441,000 after acquiring an additional 8,311 shares during the period. Advisor Resource Council bought a new stake in SPDR Gold MiniShares Trust in the 3rd quarter valued at about $690,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in SPDR Gold MiniShares Trust by 14.4% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 39,122 shares of the company’s stock valued at $2,039,000 after purchasing an additional 4,922 shares during the period.

SPDR Gold MiniShares Trust Stock Performance

NYSEARCA GLDM opened at $53.57 on Friday. The company has a 50-day moving average price of $52.30 and a two-hundred day moving average price of $48.96. SPDR Gold MiniShares Trust has a 52 week low of $38.32 and a 52 week high of $55.29.

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.