SPDR Gold MiniShares Trust (NYSEARCA:GLDM) Sees Unusually-High Trading Volume – Still a Buy?

SPDR Gold MiniShares Trust (NYSEARCA:GLDM) saw strong trading volume on Wednesday . 4,288,390 shares changed 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 Stock Performance

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

Hedge Funds Weigh In On SPDR Gold MiniShares Trust

A number of institutional investors have recently added to or reduced their stakes in GLDM. Hantz Financial Services Inc. purchased a new stake in SPDR Gold MiniShares Trust during the 2nd quarter valued at about $28,000. Family Firm Inc. purchased a new stake in SPDR Gold MiniShares Trust during the 2nd quarter valued at $32,000. Rothschild Investment LLC bought a new stake in shares of SPDR Gold MiniShares Trust in the 2nd quarter worth $38,000. Barrett & Company Inc. bought a new position in shares of SPDR Gold MiniShares Trust during the third quarter valued at $53,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of SPDR Gold MiniShares Trust during the third quarter valued at $65,000.

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.