SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Hits New 52-Week High – Still a Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $58.05 and last traded at $57.99, with a volume of 773915 shares changing hands. The stock had previously closed at $57.17.

SPDR Gold MiniShares Trust Stock Up 1.7 %

The business’s 50 day moving average price is $54.02 and its 200-day moving average price is $52.45.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

Several large investors have recently modified their holdings of GLDM. Evoke Wealth LLC increased its position in shares of SPDR Gold MiniShares Trust by 0.7% during the 4th quarter. Evoke Wealth LLC now owns 6,604,327 shares of the company’s stock worth $343,359,000 after purchasing an additional 47,341 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its stake in SPDR Gold MiniShares Trust by 1.9% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,744,426 shares of the company’s stock worth $298,653,000 after buying an additional 106,433 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of SPDR Gold MiniShares Trust by 109.5% during the fourth quarter. Bank of America Corp DE now owns 4,683,654 shares of the company’s stock worth $243,503,000 after buying an additional 2,447,630 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of SPDR Gold MiniShares Trust by 28.1% in the third quarter. Asset Management One Co. Ltd. now owns 4,017,429 shares of the company’s stock valued at $209,429,000 after acquiring an additional 880,693 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of SPDR Gold MiniShares Trust by 43.2% in the 3rd quarter. State Street Corp now owns 3,226,956 shares of the company’s stock worth $168,221,000 after acquiring an additional 973,410 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.