Artesa Financial Group LLC Takes Position in SPDR Gold Shares $GLD

Artesa Financial Group LLC acquired a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,134 shares of the exchange traded fund’s stock, valued at approximately $3,620,000. SPDR Gold Shares makes up about 3.7% of Artesa Financial Group LLC’s portfolio, making the stock its 10th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in GLD. WPG Advisers LLC purchased a new stake in shares of SPDR Gold Shares in the 4th quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new stake in shares of SPDR Gold Shares in the 2nd quarter valued at approximately $26,000. Hopwood Financial Services Inc. purchased a new stake in shares of SPDR Gold Shares in the 3rd quarter valued at approximately $27,000. Vestwell Advisors LLC purchased a new stake in shares of SPDR Gold Shares in the 3rd quarter valued at approximately $27,000. Finally, Eukles Asset Management purchased a new stake in shares of SPDR Gold Shares in the 4th quarter valued at approximately $27,000. 42.19% of the stock is currently owned by institutional investors.

Key Stories Impacting SPDR Gold Shares

Here are the key news stories impacting SPDR Gold Shares this week:

• Neutral Sentiment: China increased its gold reserves in May for a 19th straight month of purchases, underscoring continued official-sector demand for bullion. China increases gold reserves by 9.95 tonnes in May for 19th straight month of purchases
• Neutral Sentiment: Some analysts remain constructive on gold over the long term, arguing that higher inflation could eventually push real rates lower and support a rebound. Rising inflation may push real rates lower, setting the stage for gold’s next rally – WisdomTree’s Shah
• Negative Sentiment: Gold has broken below the 200-day moving average and continues to test support, signaling weakening momentum and higher downside risk for GLD. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds After Breakdown
• Negative Sentiment: Gold weakness is broadening across the precious-metals complex, with platinum and palladium also extending losses. Platinum, palladium extend losses as Bank of America maintains bullish year-end price outlook
• Negative Sentiment: Analysts say Fed rate-hike expectations above 70% are pressuring gold and could keep selling pressure intact into upcoming inflation data. Gold News: Fed Rate Hike Expectations Put Gold Market Under Pressure

SPDR Gold Shares Stock Performance

Shares of NYSEARCA:GLD opened at $390.78 on Wednesday. The company has a market cap of $142.13 billion, a PE ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 52 week low of $299.89 and a 52 week high of $509.70. The firm has a 50 day simple moving average of $424.20 and a 200 day simple moving average of $427.89.

SPDR Gold Shares Profile

SPDR Gold Trust (the Trust) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust’s business activity is the investment of gold. The Trust creates and redeems Shares from time to time, but in one or more Baskets (a Basket equals a block of 100,000 Shares). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.