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

Towneley Capital Management Inc DE reduced its position in shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 14.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 497,813 shares of the company’s stock after selling 86,989 shares during the period. abrdn Physical Gold Shares ETF accounts for about 4.6% of Towneley Capital Management Inc DE’s investment portfolio, making the stock its 7th largest position. Towneley Capital Management Inc DE owned about 0.28% of abrdn Physical Gold Shares ETF worth $22,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Jain Global LLC acquired a new position in shares of abrdn Physical Gold Shares ETF in the fourth quarter valued at approximately $26,465,000. E Fund Management Co. Ltd. raised its holdings in abrdn Physical Gold Shares ETF by 530.3% in the 2nd quarter. E Fund Management Co. Ltd. now owns 753,291 shares of the company’s stock valued at $23,759,000 after acquiring an additional 633,786 shares during the last quarter. LPL Financial LLC raised its holdings in abrdn Physical Gold Shares ETF by 17.1% in the 4th quarter. LPL Financial LLC now owns 2,059,659 shares of the company’s stock valued at $84,611,000 after acquiring an additional 300,746 shares during the last quarter. Fulcrum Wealth Advisors LLC purchased a new position in shares of abrdn Physical Gold Shares ETF during the 4th quarter worth $11,600,000. Finally, MML Investors Services LLC lifted its stake in shares of abrdn Physical Gold Shares ETF by 149.5% during the 2nd quarter. MML Investors Services LLC now owns 443,846 shares of the company’s stock worth $13,999,000 after purchasing an additional 265,946 shares during the period.

abrdn Physical Gold Shares ETF News Roundup

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 Stock Up 1.1%

Shares of NYSEARCA:SGOL opened at $38.77 on Friday. abrdn Physical Gold Shares ETF has a 52 week low of $31.05 and a 52 week high of $52.84. The business has a fifty day simple moving average of $42.64 and a 200-day simple moving average of $44.33.

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.