abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sets New 12-Month High – Time to Buy?

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL)’s stock price hit 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 traded. The stock had previously closed at $28.80.

abrdn Physical Gold Shares ETF Stock Performance

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

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its holdings in abrdn Physical Gold Shares ETF by 2,405.0% during the fourth quarter. Proficio Capital Partners LLC now owns 3,016,596 shares of the company’s stock worth $75,566,000 after acquiring an additional 2,896,173 shares during the period. Quadrature Capital Ltd purchased a new position in abrdn Physical Gold Shares ETF in the 3rd quarter valued at approximately $35,703,000. Bank of Montreal Can acquired a new position in abrdn Physical Gold Shares ETF during the third quarter worth $20,710,000. JPMorgan Chase & Co. boosted its position in abrdn Physical Gold Shares ETF by 393.3% during the third 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 in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in abrdn Physical Gold Shares ETF by 25.5% in the fourth quarter. Wells Fargo & Company MN now owns 2,746,627 shares of the company’s stock valued at $68,803,000 after purchasing an additional 557,840 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.