Sequoia Financial Advisors LLC bought a new position in shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 27,385 shares of the company’s stock, valued at approximately $1,125,000.
Other large investors have also recently added to or reduced their stakes in the company. Encompass More Asset Management grew its holdings in shares of abrdn Physical Gold Shares ETF by 1.8% in the 4th quarter. Encompass More Asset Management now owns 371,305 shares of the company’s stock valued at $15,253,000 after acquiring an additional 6,722 shares in the last quarter. Alpha Cubed Investments LLC lifted its stake in abrdn Physical Gold Shares ETF by 14.3% in the 4th quarter. Alpha Cubed Investments LLC now owns 9,618 shares of the company’s stock valued at $395,000 after purchasing an additional 1,200 shares during the last quarter. Fulcrum Wealth Advisors LLC acquired a new stake in abrdn Physical Gold Shares ETF in the 4th quarter valued at about $11,600,000. Truist Financial Corp lifted its stake in abrdn Physical Gold Shares ETF by 20.4% in the 4th quarter. Truist Financial Corp now owns 10,161 shares of the company’s stock valued at $417,000 after purchasing an additional 1,721 shares during the last quarter. Finally, Pegasus Asset Management Inc. acquired a new stake in abrdn Physical Gold Shares ETF in the 4th quarter valued at about $614,000.
abrdn Physical Gold Shares ETF Stock Performance
Shares of SGOL stock opened at $44.91 on Wednesday. The firm has a 50 day moving average price of $45.49 and a two-hundred day moving average price of $43.77. abrdn Physical Gold Shares ETF has a 12-month low of $30.20 and a 12-month high of $52.84.
abrdn Physical Gold Shares ETF News Summary
- Negative Sentiment: Hot CPI readings strengthened the U.S. dollar and lifted yields, which typically hurts non-yielding assets like gold and has pressured SGOL. Gold News: Gold Price Retreats as Hot CPI Strengthens Dollar and Yields
- Negative Sentiment: Rising Treasury yields and renewed Fed hawkishness have prompted traders to trim gold exposure, adding short-term downside pressure to precious-metals funds. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats As Traders Bet On Hawkish Fed
- Negative Sentiment: Gold has been testing technical resistance near the $4,700 area, suggesting some traders see limited near-term upside and potential for corrective pullbacks. Gold prices testing resistance at $4,700 as US CPI rises 3.8% in the last 12 months
About abrdn Physical Gold Shares ETF
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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