abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Reaches New 52-Week High – Here’s What Happened

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $26.68 and last traded at $26.68, with a volume of 1518924 shares trading hands. The stock had previously closed at $26.30.

abrdn Physical Gold Shares ETF Price Performance

The firm has a 50-day simple moving average of $25.48 and a 200 day simple moving average of $24.87.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

Several hedge funds have recently added to or reduced their stakes in SGOL. Sunbelt Securities Inc. acquired a new stake in abrdn Physical Gold Shares ETF in the second quarter valued at $26,000. Exchange Traded Concepts LLC bought a new position in abrdn Physical Gold Shares ETF during the 3rd quarter worth approximately $47,000. Centerpoint Advisors LLC acquired a new position in shares of abrdn Physical Gold Shares ETF in the 4th quarter worth approximately $81,000. FMR LLC boosted its stake in shares of abrdn Physical Gold Shares ETF by 18.1% in the 3rd quarter. FMR LLC now owns 4,250 shares of the company’s stock valued at $107,000 after purchasing an additional 652 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of abrdn Physical Gold Shares ETF by 33.3% during the third quarter. Allworth Financial LP now owns 7,418 shares of the company’s stock worth $186,000 after buying an additional 1,853 shares during the period.

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.