abrdn Physical Gold Shares ETF $SGOL Shares Sold by Towneley Capital Management Inc DE

Towneley Capital Management Inc DE decreased its holdings in abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 14.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 497,813 shares of the company’s stock after selling 86,989 shares during the quarter. abrdn Physical Gold Shares ETF accounts for approximately 4.6% of Towneley Capital Management Inc DE’s investment portfolio, making the stock its 7th largest holding. Towneley Capital Management Inc DE’s holdings in abrdn Physical Gold Shares ETF were worth $22,212,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SGOL. Smartleaf Asset Management LLC acquired a new position in abrdn Physical Gold Shares ETF during the fourth quarter valued at approximately $27,000. Anfield Capital Management LLC acquired a new stake in shares of abrdn Physical Gold Shares ETF in the third quarter worth $37,000. BNP Paribas purchased a new position in shares of abrdn Physical Gold Shares ETF in the 2nd quarter valued at $39,000. Eastern Bank purchased a new position in shares of abrdn Physical Gold Shares ETF in the 4th quarter valued at $47,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of abrdn Physical Gold Shares ETF during the 4th quarter valued at $51,000.

abrdn Physical Gold Shares ETF Stock Up 1.1%

Shares of abrdn Physical Gold Shares ETF stock opened at $38.77 on Friday. The company has a fifty day moving average price of $42.64 and a 200 day moving average price of $44.33. abrdn Physical Gold Shares ETF has a twelve month low of $31.05 and a twelve month high of $52.84.

More abrdn Physical Gold Shares ETF News

Here are the key news stories impacting abrdn Physical Gold Shares ETF this week:

• Positive Sentiment: Gold is gaining ground as the dollar eases from recent highs and Treasury yields fall, improving the outlook for precious metals and supporting SGOL. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Gains Ground As Dollar Moves Away From Yearly Highs
• Positive Sentiment: Gold hit a session high near $4,080/oz after U.S. consumer sentiment improved and inflation expectations eased, which boosted demand for the metal. Spot gold hits session high near 4,080/oz after final Consumer Sentiment rises to 49.5, one-year and long-term inflation expectations ease
• Positive Sentiment: Gold has been attempting to bounce off the $4,000 region, suggesting buyers are defending a key support level. Gold Price Analysis – Gold Attempting to Bounce from $4000 Region
• Neutral Sentiment: Several reports note that gold has also faced pressure from a hawkish Fed, a stronger dollar, and a recent technical breakdown, so the near-term trend remains choppy despite today’s rebound attempt. Gold (XAUUSD) Price Forecast: Can China Buying Offset Hawkish Fed Pressure?
• Negative Sentiment: Some market commentary warns gold could still have further downside if rate-hike expectations remain elevated and recent support levels fail. Gold Declines; Prices Could Have Further to Fall

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.