Turner Financial Group Inc. bought a new position in shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 69,974 shares of the company’s stock, valued at approximately $2,675,000. abrdn Physical Gold Shares ETF makes up about 2.7% of Turner Financial Group Inc.’s investment portfolio, making the stock its 7th largest holding.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Concurrent Investment Advisors LLC boosted its position in shares of abrdn Physical Gold Shares ETF by 12.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 12,872 shares of the company’s stock valued at $492,000 after purchasing an additional 1,400 shares during the period. Firestone Capital Management increased its position in abrdn Physical Gold Shares ETF by 43.5% during the second quarter. Firestone Capital Management now owns 8,511 shares of the company’s stock worth $325,000 after buying an additional 2,579 shares during the period. Compass Financial Management LLC purchased a new stake in abrdn Physical Gold Shares ETF in the second quarter valued at approximately $1,152,000. Financial Designs Corp lifted its stake in abrdn Physical Gold Shares ETF by 14.8% in the second quarter. Financial Designs Corp now owns 15,150 shares of the company’s stock valued at $579,000 after buying an additional 1,955 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its stake in abrdn Physical Gold Shares ETF by 11.6% in the second quarter. Key Client Fiduciary Advisors LLC now owns 15,398 shares of the company’s stock valued at $589,000 after buying an additional 1,602 shares during the last quarter.
abrdn Physical Gold Shares ETF News Roundup
Here are the key news stories impacting abrdn Physical Gold Shares ETF this week:
- Positive Sentiment: Gold continues to receive strategic support from concerns about rising government debt and a global bond-market selloff. Invesco said investors are increasingly treating gold as a long-term portfolio allocation rather than merely a tactical trade, which could support demand for SGOL. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
- Positive Sentiment: A weaker U.S. dollar, somewhat more dovish Federal Reserve commentary and easing expectations for additional rate hikes have helped gold recover, improving the near-term backdrop for SGOL. Gold Rises on Weaker U.S. Dollar
- Positive Sentiment: Geopolitical risks, including tensions involving Iran and shipping concerns around the Strait of Hormuz, are reinforcing gold’s safe-haven appeal. RBC remains constructive on gold despite acknowledging near-term consumer headwinds and elevated Treasury yields. RBC backs gold as Hormuz shipping risks rattle markets
- Neutral Sentiment: Gold has reclaimed some technical levels and analysts identified potential upside toward $4,852, but traders are awaiting the U.S. nonfarm payrolls report and CPI data for confirmation. Gold Price Forecast: Breakout Targets $4,852 and Beyond
- Negative Sentiment: Gold’s failed breakout and sharp price swings have reduced conviction: Wall Street is split among bullish, bearish and neutral views, while Main Street’s bullish majority has narrowed. A stronger-than-expected jobs report or CPI reading could lift yields and revive rate-hike expectations, increasing gold’s opportunity cost and weighing on SGOL. Wall Street indecisive after gold price rollercoaster ride
abrdn Physical Gold Shares ETF Price Performance
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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