SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Strong Trading Volume – Here’s Why

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) saw unusually-high trading volume on Monday . Approximately 3,334,955 shares changed hands during mid-day trading, an increase of 31% from the previous session’s volume of 2,549,429 shares.The stock last traded at $55.83 and had previously closed at $55.48.

SPDR Gold MiniShares Trust Price Performance

The firm’s 50 day simple moving average is $52.90 and its 200-day simple moving average is $51.66.

Hedge Funds Weigh In On SPDR Gold MiniShares Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning lifted its position in shares of SPDR Gold MiniShares Trust by 6.1% during the 2nd quarter. Creative Planning now owns 42,039 shares of the company’s stock valued at $1,938,000 after acquiring an additional 2,400 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in SPDR Gold MiniShares Trust by 10.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,863 shares of the company’s stock worth $639,000 after purchasing an additional 1,314 shares in the last quarter. Truist Financial Corp grew its holdings in SPDR Gold MiniShares Trust by 37.4% in the second quarter. Truist Financial Corp now owns 111,462 shares of the company’s stock valued at $5,137,000 after purchasing an additional 30,319 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in SPDR Gold MiniShares Trust in the second quarter valued at $4,044,000. Finally, Myecfo LLC increased its position in shares of SPDR Gold MiniShares Trust by 18.1% in the third quarter. Myecfo LLC now owns 15,205 shares of the company’s stock valued at $793,000 after buying an additional 2,330 shares in 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.