abrdn Physical Gold Shares ETF $SGOL is WT Wealth Management’s 2nd Largest Position

WT Wealth Management decreased its position in abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 5.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 426,633 shares of the company’s stock after selling 25,811 shares during the quarter. abrdn Physical Gold Shares ETF makes up 5.7% of WT Wealth Management’s portfolio, making the stock its 2nd biggest holding. WT Wealth Management’s holdings in abrdn Physical Gold Shares ETF were worth $19,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SGOL. Smartleaf Asset Management LLC purchased a new stake in shares of abrdn Physical Gold Shares ETF during the 4th quarter valued at about $27,000. Anfield Capital Management LLC bought a new position in shares of abrdn Physical Gold Shares ETF in the 3rd quarter worth approximately $37,000. Eastern Bank purchased a new position in shares of abrdn Physical Gold Shares ETF in the fourth quarter worth approximately $47,000. Nvest Wealth Strategies Inc. purchased a new position in shares of abrdn Physical Gold Shares ETF in the fourth quarter worth approximately $51,000. Finally, BNP Paribas purchased a new position in shares of abrdn Physical Gold Shares ETF in the second quarter worth approximately $39,000.

More abrdn Physical Gold Shares ETF News

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 Performance

Shares of NYSEARCA SGOL opened at $38.77 on Friday. abrdn Physical Gold Shares ETF has a 12-month low of $31.05 and a 12-month high of $52.84. The firm has a 50 day moving average of $42.64 and a 200 day moving average of $44.33.

abrdn Physical Gold Shares ETF 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.