abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sets New 52-Week High – Here’s Why

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $27.99 and last traded at $27.99, with a volume of 87464 shares. The stock had previously closed at $27.54.

abrdn Physical Gold Shares ETF Stock Performance

The firm has a 50 day moving average price of $26.02 and a 200-day moving average price of $25.27.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

A number of large investors have recently added to or reduced their stakes in the stock. Ervin Investment Management LLC boosted its holdings in abrdn Physical Gold Shares ETF by 30.5% during the fourth quarter. Ervin Investment Management LLC now owns 102,385 shares of the company’s stock valued at $2,565,000 after acquiring an additional 23,910 shares during the period. FMR LLC lifted its position in shares of abrdn Physical Gold Shares ETF by 18.1% during the 3rd quarter. FMR LLC now owns 4,250 shares of the company’s stock worth $107,000 after purchasing an additional 652 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in abrdn Physical Gold Shares ETF by 393.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 885,680 shares of the company’s stock valued at $22,257,000 after purchasing an additional 706,134 shares during the period. International Assets Investment Management LLC acquired a new stake in abrdn Physical Gold Shares ETF in the 3rd quarter valued at approximately $725,000. Finally, Foundations Investment Advisors LLC grew its stake in shares of abrdn Physical Gold Shares ETF by 24.6% in the third quarter. Foundations Investment Advisors LLC now owns 58,823 shares of the company’s stock worth $1,478,000 after acquiring an additional 11,601 shares during the last quarter.

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.