Goldman Sachs Physical Gold ETF (BATS:AAAU – Get Free Report) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 247,720 shares, a decline of 37.7% from the September 15th total of 397,927 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 1,671,641 shares, the short-interest ratio is presently 0.1 days.
More Goldman Sachs Physical Gold ETF News
Here are the key news stories impacting Goldman Sachs Physical Gold ETF this week:
- Positive Sentiment: Falling Treasury yields, a softer U.S. dollar and reduced expectations for an October Fed rate hike helped gold recover from its inflation-driven selloff. Lower real yields generally improve the appeal of non-yielding gold. Wall Street undecided on gold’s near-term trajectory
- Positive Sentiment: Gold has held key support near the $4,000 area for multiple weeks, while falling real yields and improving weekly price structure raise the possibility of an upside breakout. Gold Weekly Price Forecast
- Positive Sentiment: Chinese demand provided a fundamental tailwind: the central bank added 23 tonnes to its reserves, while Chinese gold ETFs and retail demand improved during the recent holiday period. China buys the gold dip
- Positive Sentiment: Short interest in AAAU declined 37.7% in September, reducing bearish positioning and potentially limiting selling pressure. AAAU short interest down
- Neutral Sentiment: Investors are awaiting housing, manufacturing, employment and consumer-sentiment data for clues about economic growth and the Fed’s next policy decisions, which could increase gold volatility. Gold looks to economic data
- Negative Sentiment: Hot U.S. inflation remains the main headwind. September PPI rose 6.3% year over year, while stronger-than-expected consumer spending and inflation data keep December rate-hike risks alive, supporting the dollar and yields. Gold holds above $4,100 despite higher PPI
- Negative Sentiment: Gold is facing strong technical resistance around $4,200-$4,226. Analysts remain divided on whether the recent rebound can break that ceiling, limiting near-term upside for AAAU. Gold bulls face crucial resistance
Goldman Sachs Physical Gold ETF Stock Down 0.2%
AAAU stock opened at $41.07 on Friday. Goldman Sachs Physical Gold ETF has a 52 week low of $38.64 and a 52 week high of $54.71. The business has a 50-day simple moving average of $42.72 and a 200 day simple moving average of $43.06.
Institutional Investors Weigh In On Goldman Sachs Physical Gold ETF
Hedge funds have recently modified their holdings of the company. NEOS Investment Management LLC boosted its position in Goldman Sachs Physical Gold ETF by 38.6% during the 2nd quarter. NEOS Investment Management LLC now owns 2,734,560 shares of the company’s stock worth $108,207,000 after buying an additional 761,400 shares during the period. Walser Wealth Management Company A Ltd Liability Co bought a new stake in shares of Goldman Sachs Physical Gold ETF in the fourth quarter worth $2,602,000. Capstone Wealth Management Group LLC bought a new stake in shares of Goldman Sachs Physical Gold ETF in the fourth quarter worth $1,998,000. Waverly Advisors LLC acquired a new stake in Goldman Sachs Physical Gold ETF in the first quarter valued at $1,470,000. Finally, Moulton Wealth Management Inc. increased its stake in shares of Goldman Sachs Physical Gold ETF by 44.6% in the third quarter. Moulton Wealth Management Inc. now owns 99,027 shares of the company’s stock valued at $4,075,000 after buying an additional 30,544 shares during the period.
About Goldman Sachs Physical Gold ETF
The Goldman Sachs Physical Gold ETF (AAAU) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in vaults located in the UK. AAAU was launched on Jul 26, 2018 and is issued by Goldman Sachs.
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