abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sets New 1-Year High – Still a Buy?

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $29.19 and last traded at $29.17, with a volume of 1892391 shares trading hands. The stock had previously closed at $28.80.

abrdn Physical Gold Shares ETF Stock Performance

The stock’s 50 day moving average price is $27.55 and its 200-day moving average price is $26.08.

Institutional Trading of abrdn Physical Gold Shares ETF

A number of institutional investors have recently modified their holdings of the company. Ervin Investment Management LLC raised its stake in abrdn Physical Gold Shares ETF by 30.5% in the fourth quarter. Ervin Investment Management LLC now owns 102,385 shares of the company’s stock valued at $2,565,000 after buying an additional 23,910 shares during the last quarter. FMR LLC boosted its stake 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 worth $107,000 after purchasing an additional 652 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 worth $22,257,000 after purchasing an additional 706,134 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of abrdn Physical Gold Shares ETF by 15.5% in the 4th quarter. Sanctuary Advisors LLC now owns 11,348 shares of the company’s stock valued at $303,000 after acquiring an additional 1,526 shares during the period. Finally, Wealthfront Advisers LLC acquired a new position in shares of abrdn Physical Gold Shares ETF in the fourth quarter valued at about $207,000.

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.