WT Wealth Management decreased its holdings in abrdn Physical Gold Shares ETF (NYSEARCA:SGOL – Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,633 shares of the company’s stock after selling 25,811 shares during the period. abrdn Physical Gold Shares ETF comprises about 5.7% of WT Wealth Management’s investment portfolio, making the stock its 2nd biggest holding. WT Wealth Management owned 0.24% of abrdn Physical Gold Shares ETF worth $19,036,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. Xcel Wealth Management LLC boosted its position in shares of abrdn Physical Gold Shares ETF by 0.6% during the first quarter. Xcel Wealth Management LLC now owns 55,835 shares of the company’s stock valued at $2,491,000 after buying an additional 306 shares during the last quarter. Decker Retirement Planning Inc. raised its position in abrdn Physical Gold Shares ETF by 54.0% in the 1st quarter. Decker Retirement Planning Inc. now owns 31,732 shares of the company’s stock worth $1,416,000 after buying an additional 11,130 shares during the last quarter. Independent Wealth Network Inc. lifted its stake in abrdn Physical Gold Shares ETF by 3.0% during the 1st quarter. Independent Wealth Network Inc. now owns 7,678 shares of the company’s stock valued at $343,000 after acquiring an additional 221 shares during the period. Pegasus Asset Management Inc. lifted its stake in abrdn Physical Gold Shares ETF by 31.2% during the 1st quarter. Pegasus Asset Management Inc. now owns 19,604 shares of the company’s stock valued at $875,000 after acquiring an additional 4,666 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of abrdn Physical Gold Shares ETF by 38.3% during the 1st quarter. Kestra Private Wealth Services LLC now owns 10,956 shares of the company’s stock valued at $489,000 after acquiring an additional 3,034 shares during the last quarter.
More abrdn Physical Gold Shares ETF News
Here are the key news stories impacting abrdn Physical Gold Shares ETF this week:
- Positive Sentiment: Gold is gaining ground as the dollar eases from recent highs and Treasury yields fall, improving the outlook for precious metals and supporting SGOL. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Gains Ground As Dollar Moves Away From Yearly Highs
- Positive Sentiment: Gold hit a session high near $4,080/oz after U.S. consumer sentiment improved and inflation expectations eased, which boosted demand for the metal. Spot gold hits session high near 4,080/oz after final Consumer Sentiment rises to 49.5, one-year and long-term inflation expectations ease
- Positive Sentiment: Gold has been attempting to bounce off the $4,000 region, suggesting buyers are defending a key support level. Gold Price Analysis – Gold Attempting to Bounce from $4000 Region
- Neutral Sentiment: Several reports note that gold has also faced pressure from a hawkish Fed, a stronger dollar, and a recent technical breakdown, so the near-term trend remains choppy despite today’s rebound attempt. Gold (XAUUSD) Price Forecast: Can China Buying Offset Hawkish Fed Pressure?
- Negative Sentiment: Some market commentary warns gold could still have further downside if rate-hike expectations remain elevated and recent support levels fail. Gold Declines; Prices Could Have Further to Fall
abrdn Physical Gold Shares ETF Stock Up 1.1%
abrdn Physical Gold Shares ETF Company Profile
The abrdn Physical Gold Shares ETF (SGOL) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund seeks to track the spot price for gold, less trust expenses holding costs, holding physical gold bars. SGOL was launched on Sep 9, 2009 and is managed by Abrdn.
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