Compass Financial Management LLC bought a new position in abrdn Physical Gold Shares ETF (NYSEARCA:SGOL – Free Report) during the second quarter, Holdings Channel reports. The institutional investor bought 30,133 shares of the company’s stock, valued at approximately $1,152,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of abrdn Physical Gold Shares ETF by 5.8% during the fourth quarter. JPMorgan Chase & Co. now owns 4,367,518 shares of the company’s stock valued at $179,418,000 after purchasing an additional 238,704 shares during the last quarter. Bank of America Corp DE raised its position in shares of abrdn Physical Gold Shares ETF by 2.6% during the 3rd quarter. Bank of America Corp DE now owns 3,743,548 shares of the company’s stock worth $137,800,000 after purchasing an additional 96,381 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of abrdn Physical Gold Shares ETF by 2.6% in the 4th quarter. Wells Fargo & Company MN now owns 3,026,827 shares of the company’s stock worth $124,342,000 after purchasing an additional 77,300 shares during the last quarter. Morgan Stanley lifted its holdings in shares of abrdn Physical Gold Shares ETF by 5.7% in the 4th quarter. Morgan Stanley now owns 2,319,730 shares of the company’s stock worth $95,295,000 after purchasing an additional 124,404 shares during the last quarter. Finally, LPL Financial LLC boosted its position in abrdn Physical Gold Shares ETF by 17.1% during the 4th quarter. LPL Financial LLC now owns 2,059,659 shares of the company’s stock valued at $84,611,000 after purchasing an additional 300,746 shares during the period.
abrdn Physical Gold Shares ETF Stock Performance
NYSEARCA:SGOL opened at $43.96 on Monday. The business has a 50 day simple moving average of $39.73 and a 200 day simple moving average of $43.30. abrdn Physical Gold Shares ETF has a 12-month low of $31.74 and a 12-month high of $52.84.
abrdn Physical Gold Shares ETF News Summary
- Positive Sentiment: Gold climbed above $4,600 per ounce as investors interpreted the Treasury’s expanded long-term bond-buyback plans as a sign of fiscal and bond-market stress. The resulting dollar selling and lower-yield expectations are supportive for SGOL. Gold Above $4,600 on Weaker Dollar, Debt Fears
- Positive Sentiment: Gold is on track for a strong weekly gain as bond jitters, concerns over rising U.S. debt and a weaker dollar revive safe-haven demand. Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
- Positive Sentiment: Billionaire investor Ray Dalio said Treasury actions may indicate that a debt crisis is drawing closer and recommended gold and bitcoin, reinforcing gold’s appeal as a portfolio hedge. Ray Dalio says Bessent move is sign that a debt crisis is getting closer
- Positive Sentiment: Technical momentum has improved, with gold clearing major resistance and its 200-day moving average; analysts are raising longer-term targets, including forecasts of $5,000 or more. Gold Price Analysis – Gold Clears $4,600 Resistance as Golden Cross Emerges
- Neutral Sentiment: Stronger-than-expected August U.S. services activity helped gold hold its gains, but resilient economic data could complicate expectations for future Federal Reserve easing. Spot gold holds above $4,585/oz as flash S&P composite PMI improves
- Negative Sentiment: Profit-taking, recovering Treasury yields and renewed expectations that the Federal Reserve could raise rates remain risks to gold and SGOL. Gold News: Yields Recover as Fed Minutes and Profit-Taking Cap the Gold Rally
abrdn Physical Gold Shares ETF 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.
Further Reading
- Five stocks we like better than abrdn Physical Gold Shares ETF
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding SGOL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for abrdn Physical Gold Shares ETF (NYSEARCA:SGOL – Free Report).
Receive News & Ratings for abrdn Physical Gold Shares ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for abrdn Physical Gold Shares ETF and related companies with MarketBeat.com's FREE daily email newsletter.
