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

SPDR Gold MiniShares Trust (NYSEARCA:GLDM)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $56.37 and last traded at $56.36, with a volume of 2811580 shares traded. The stock had previously closed at $55.81.

SPDR Gold MiniShares Trust Price Performance

The stock has a fifty day moving average price of $53.23 and a 200 day moving average price of $51.85.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Community Trust NA purchased a new position in SPDR Gold MiniShares Trust during the fourth quarter valued at approximately $43,000. Barrett & Company Inc. purchased a new position in shares of SPDR Gold MiniShares Trust during the 3rd quarter valued at $53,000. First Horizon Advisors Inc. purchased a new position in shares of SPDR Gold MiniShares Trust during the 3rd quarter valued at $65,000. Glass Jacobson Investment Advisors llc bought a new position in shares of SPDR Gold MiniShares Trust in the third quarter worth $74,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of SPDR Gold MiniShares Trust in the third quarter worth $76,000.

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.