SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Large Volume Increase – Still a Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) saw unusually-high trading volume on Friday . Approximately 3,107,960 shares traded hands 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 Stock Performance

The firm’s 50 day moving average price is $52.38 and its 200 day moving average price is $50.88.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GLDM. Barrett & Company Inc. purchased a new position in shares of SPDR Gold MiniShares Trust in the 3rd quarter valued at approximately $53,000. First Horizon Advisors Inc. purchased a new position in SPDR Gold MiniShares Trust during the third quarter valued at $65,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of SPDR Gold MiniShares Trust during the 3rd quarter valued at $74,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of SPDR Gold MiniShares Trust in the 3rd quarter worth about $76,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of SPDR Gold MiniShares Trust in the 2nd quarter worth about $96,000.

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.