SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Strong Trading Volume – Should You Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) shares saw an uptick in trading volume on Friday . 3,107,960 shares were traded during mid-day 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 1.1 %

The business has a 50-day simple moving average of $52.39 and a 200-day simple moving average of $50.80.

Hedge Funds Weigh In On SPDR Gold MiniShares Trust

A number of large investors have recently added to or reduced their stakes in GLDM. Baker Tilly Wealth Management LLC grew its position in shares of SPDR Gold MiniShares Trust by 4.3% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 52,495 shares of the company’s stock valued at $2,729,000 after purchasing an additional 2,165 shares during the period. Bangor Savings Bank increased its stake in SPDR Gold MiniShares Trust by 6.0% during the 4th quarter. Bangor Savings Bank now owns 369,359 shares of the company’s stock worth $19,203,000 after buying an additional 21,056 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of SPDR Gold MiniShares Trust by 1.0% during the fourth quarter. Confluence Investment Management LLC now owns 627,966 shares of the company’s stock valued at $32,648,000 after acquiring an additional 6,010 shares during the last quarter. Copley Financial Group Inc. acquired a new position in shares of SPDR Gold MiniShares Trust during the third quarter valued at approximately $7,230,000. Finally, Synovus Financial Corp lifted its position in shares of SPDR Gold MiniShares Trust by 82.1% in the third quarter. Synovus Financial Corp now owns 244,514 shares of the company’s stock valued at $12,747,000 after acquiring an additional 110,221 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.