SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Reaches New 12-Month High – Still a Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $57.69 and last traded at $57.61, with a volume of 2338380 shares trading hands. The stock had previously closed at $56.69.

SPDR Gold MiniShares Trust Stock Performance

The company’s 50 day moving average price is $53.42 and its 200-day moving average price is $52.05.

Institutional Trading of SPDR Gold MiniShares Trust

Several hedge funds have recently made changes to their positions in GLDM. First Community Trust NA purchased a new stake in SPDR Gold MiniShares Trust in the 4th quarter worth about $43,000. Barrett & Company Inc. purchased a new position in shares of SPDR Gold MiniShares Trust in the third quarter worth about $53,000. First Horizon Advisors Inc. bought a new stake in shares of SPDR Gold MiniShares Trust in the third quarter valued at approximately $65,000. Glass Jacobson Investment Advisors llc purchased a new stake in shares of SPDR Gold MiniShares Trust during the 3rd quarter valued at approximately $74,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in SPDR Gold MiniShares Trust in the 3rd quarter worth approximately $76,000.

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.