Artesa Financial Group LLC Buys New Stake in SPDR Gold Shares $GLD

Artesa Financial Group LLC bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, Holdings Channel reports. The firm bought 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 biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of SPDR Gold Shares by 20.4% during the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after acquiring an additional 1,903 shares during the period. Bison Wealth LLC lifted its holdings in shares of SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock worth $1,438,000 after acquiring an additional 2,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter worth about $16,014,000. Schnieders Capital Management LLC. lifted its holdings in shares of SPDR Gold Shares by 4.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after acquiring an additional 275 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of SPDR Gold Shares during the 2nd quarter worth about $337,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Down 1.6%

Shares of GLD stock opened at $390.78 on Wednesday. SPDR Gold Shares has a 12-month low of $299.89 and a 12-month high of $509.70. The company has a market capitalization of $142.13 billion, a P/E ratio of -32.43 and a beta of 0.14. The firm has a 50-day moving average price of $424.20 and a 200 day moving average price of $427.89.

Trending Headlines about 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 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.