SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Unusually-High Trading Volume – Here’s What Happened

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) saw an uptick in trading volume on Wednesday . 4,288,390 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 3,617,350 shares.The stock last traded at $52.39 and had previously closed at $52.14.

SPDR Gold MiniShares Trust Price Performance

The firm’s 50 day simple moving average is $52.85 and its two-hundred day simple moving average is $49.57.

Institutional Investors Weigh In On SPDR Gold MiniShares Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Synovus Financial Corp raised its holdings in SPDR Gold MiniShares Trust by 82.1% during the 3rd quarter. Synovus Financial Corp now owns 244,514 shares of the company’s stock valued at $12,747,000 after buying an additional 110,221 shares during the last quarter. Virtu Financial LLC bought a new position in shares of SPDR Gold MiniShares Trust during the third quarter valued at about $1,678,000. Hobbs Group Advisors LLC boosted its holdings in shares of SPDR Gold MiniShares Trust by 3.3% during the third quarter. Hobbs Group Advisors LLC now owns 126,712 shares of the company’s stock worth $6,606,000 after purchasing an additional 4,060 shares during the period. Brown Financial Advisors grew its stake in shares of SPDR Gold MiniShares Trust by 4.3% in the third quarter. Brown Financial Advisors now owns 31,346 shares of the company’s stock worth $1,634,000 after purchasing an additional 1,302 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in SPDR Gold MiniShares Trust during the 3rd quarter valued at approximately $1,939,000.

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.