SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Large Volume Increase – Here’s What Happened

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) saw unusually-strong trading volume on Friday . Approximately 9,376,187 shares traded hands during trading, an increase of 127% from the previous session’s volume of 4,138,159 shares.The stock last traded at $83.87 and had previously closed at $85.28.

SPDR Gold MiniShares Trust Trading Down 1.9%

The business’s fifty day moving average price is $72.76 and its two-hundred day moving average price is $68.00.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

Several hedge funds have recently added to or reduced their stakes in GLDM. Jane Street Group LLC purchased a new stake in SPDR Gold MiniShares Trust in the first quarter valued at $395,321,000. Empower Advisory Group LLC purchased a new stake in SPDR Gold MiniShares Trust in the second quarter valued at $336,022,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in SPDR Gold MiniShares Trust by 12.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,596,294 shares of the company’s stock valued at $903,365,000 after purchasing an additional 1,596,294 shares during the last quarter. Mizuho Bank Ltd. purchased a new stake in SPDR Gold MiniShares Trust in the first quarter valued at $68,079,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in SPDR Gold MiniShares Trust in the first quarter valued at $65,351,000.

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.