abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sees Unusually-High Trading Volume – Here’s Why

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) shares saw unusually-strong trading volume on Friday . Approximately 3,599,106 shares changed hands during trading, a decline of 22% from the previous session’s volume of 4,590,395 shares.The stock last traded at $27.09 and had previously closed at $27.42.

abrdn Physical Gold Shares ETF Trading Down 0.6 %

The business has a 50-day moving average of $26.43 and a 200-day moving average of $25.52.

Institutional Trading of abrdn Physical Gold Shares ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Main Street Group LTD acquired a new stake in shares of abrdn Physical Gold Shares ETF during the 4th quarter worth about $30,000. Centerpoint Advisors LLC acquired a new position in abrdn Physical Gold Shares ETF in the 4th quarter valued at about $81,000. FMR LLC grew its position in 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 acquiring an additional 652 shares in the last quarter. Exchange Traded Concepts LLC grew its position in abrdn Physical Gold Shares ETF by 239.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,325 shares of the company’s stock valued at $158,000 after acquiring an additional 4,461 shares in the last quarter. Finally, Modern Wealth Management LLC acquired a new position in abrdn Physical Gold Shares ETF in the 4th quarter valued at about $223,000.

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.