SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Large Volume Increase – Time to Buy?

Shares of SPDR Gold MiniShares Trust (NYSEARCA:GLDM) saw unusually-strong trading volume on Friday . Approximately 3,107,960 shares changed hands during trading, an increase of 41% from the previous session’s volume of 2,210,083 shares.The stock last traded at $53.37 and had previously closed at $52.78.

SPDR Gold MiniShares Trust Trading Up 1.7 %

The firm’s fifty day simple moving average is $52.38 and its two-hundred day simple moving average is $50.88.

Institutional Trading of SPDR Gold MiniShares Trust

Several hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of SPDR Gold MiniShares Trust during the second quarter valued at approximately $96,000. MGO One Seven LLC bought a new stake in shares of SPDR Gold MiniShares Trust during the second quarter worth $1,022,000. LPL Financial LLC grew its stake in SPDR Gold MiniShares Trust by 1.3% in the 2nd quarter. LPL Financial LLC now owns 1,536,001 shares of the company’s stock worth $70,794,000 after acquiring an additional 20,288 shares in the last quarter. Envestnet Asset Management Inc. increased its position in SPDR Gold MiniShares Trust by 18.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 786,355 shares of the company’s stock valued at $36,243,000 after purchasing an additional 120,850 shares during the period. Finally, Mills Wealth Advisors LLC raised its stake in SPDR Gold MiniShares Trust by 2.2% in the second quarter. Mills Wealth Advisors LLC now owns 45,221 shares of the company’s stock worth $2,084,000 after buying an additional 985 shares in the last quarter.

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.