abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Reaches New 12-Month High – What’s Next?

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.56 and last traded at $31.56, with a volume of 31395 shares traded. The stock had previously closed at $30.83.

abrdn Physical Gold Shares ETF Stock Performance

The company has a 50 day simple moving average of $28.55 and a two-hundred day simple moving average of $26.61.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Metis Global Partners LLC raised its holdings in abrdn Physical Gold Shares ETF by 1.4% in the 4th quarter. Metis Global Partners LLC now owns 4,723,094 shares of the company’s stock valued at $118,314,000 after acquiring an additional 65,295 shares in the last quarter. Bank of America Corp DE raised its stake in abrdn Physical Gold Shares ETF by 3.2% during the fourth quarter. Bank of America Corp DE now owns 3,442,497 shares of the company’s stock worth $86,235,000 after acquiring an additional 107,640 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of abrdn Physical Gold Shares ETF by 2,405.0% in the 4th quarter. Proficio Capital Partners LLC now owns 3,016,596 shares of the company’s stock worth $75,566,000 after purchasing an additional 2,896,173 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of abrdn Physical Gold Shares ETF by 25.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,746,627 shares of the company’s stock worth $68,803,000 after buying an additional 557,840 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of abrdn Physical Gold Shares ETF by 51.2% during the fourth quarter. LPL Financial LLC now owns 1,368,033 shares of the company’s stock worth $34,269,000 after buying an additional 463,144 shares in the last quarter.

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.