This week has not been particularly sweet for investors of NewGold ETF (GLD) as the company extended its losing run to 3 days on Thursday May 18, 2023.

NewGold ETF was the only loser on the day out of the 17 GSE listed equities that participated in trading. At the end of trading day, GLD suffered 3.23% share price depreciation.

GLD closed its trading day (Thursday, May 18, 2023) at GHS187.20 per share on the Ghana Stock Exchange (GSE), recording a GHS6.25 drop from its previous closing price of GHS193.45.

NewGold ETF began the year with a share price of GHS217.80 but has since lost 14.1% off that price valuation, ranking it 29th on the GSE in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that GLD has lost 15% of the stock’s value from April 18 to date.

NewGold ETF is the seventh most traded stock on the Ghana Stock Exchange over the past three months (Feb 14 – May 18, 2023). GLD has traded a total volume of 402,023 shares valued at GHS 81 million over the period, with an average of 6,381 traded shares per session. A volume high of 306,976 was achieved on May 17 for the same period.

NewGold, an exchange traded fund sponsored by Absa Capital, offers the opportunity to invest in gold bullion. The company issues listed instruments (structured as debentures) backed by physical gold. Each debenture is approximately equivalent to 1/100 ounces of gold bullion, which is held with a secure depository on behalf of investors. The debentures are listed on the Ghana (GSE), Johannesburg (JSE), Botswana (BSE) and Nigerian Stock Exchange (NSE), and secondary listed on Uganda (USE), Mauritius (SEN) and Zambia Stock Exchange (LuSE).

NewGold ETF is traded on the GSE under the ticker symbol “GLD”. NewGold ETF is currently the 13th most valuable stock on the GSE with a market capitalization of GHS 543 million, which makes about 0.819% of the Ghana Stock Exchange equity market.

Total Volume and Value

At the end of Thursday’s trading session on the Ghana Stock Exchange (GSE), a total of 133,647 shares, corresponding to a market value of GHS 429,260.19, were traded. The current market capitalization of the Ghana Stock Exchange is GHS 66.3 billion.

Regarding the performance of GSE market indices, the benchmark GSE Composite Index (GSE-CI) did not see any change, closing at the same mark as it opened at 2,563.65, representing a 1-week loss of 5.38%, a 4-week loss of 3.79%, but an overall year-to-date gain of 4.9%.

The GSE Financial Stocks Index (GSE-FSI) maintained its value at 1,688.00 points, making it a 1-week loss of 2.02%, a 4-week loss of 3.93%, and a year-to-date loss of 17.76%.