SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sets New 52-Week High – Here’s What Happened

SPDR Gold MiniShares Trust (NYSEARCA:GLDM)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $67.95 and last traded at $67.82, with a volume of 6120470 shares traded. The stock had previously closed at $65.78.

SPDR Gold MiniShares Trust Trading Up 3.1 %

The firm has a 50-day moving average of $59.99 and a two-hundred day moving average of $55.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of SPDR Gold MiniShares Trust by 109.5% during the 4th quarter. Bank of America Corp DE now owns 4,683,654 shares of the company’s stock valued at $243,503,000 after acquiring an additional 2,447,630 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust during the 4th quarter worth about $91,357,000. Raymond James Financial Inc. acquired a new stake in shares of SPDR Gold MiniShares Trust during the 4th quarter valued at about $43,698,000. Resona Asset Management Co. Ltd. bought a new stake in shares of SPDR Gold MiniShares Trust in the 4th quarter valued at approximately $30,003,000. Finally, JPMorgan Chase & Co. increased its holdings in SPDR Gold MiniShares Trust by 311.7% in the fourth quarter. JPMorgan Chase & Co. now owns 728,424 shares of the company’s stock worth $37,871,000 after buying an additional 551,488 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.