Blue Trust Inc. Decreases Stake in abrdn Physical Gold Shares ETF $SGOL

Blue Trust Inc. lowered its position in shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 3.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 398,850 shares of the company’s stock after selling 14,530 shares during the quarter. Blue Trust Inc. owned about 0.22% of abrdn Physical Gold Shares ETF worth $17,797,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barnes Wealth Management Group Inc increased its holdings in shares of abrdn Physical Gold Shares ETF by 4.1% in the third quarter. Barnes Wealth Management Group Inc now owns 9,876 shares of the company’s stock valued at $364,000 after purchasing an additional 390 shares during the period. Centurion Wealth Management LLC lifted its holdings in shares of abrdn Physical Gold Shares ETF by 0.5% during the fourth quarter. Centurion Wealth Management LLC now owns 94,806 shares of the company’s stock worth $3,895,000 after purchasing an additional 500 shares during the period. Evelyn Partners Investment Management LLP lifted its holdings in shares of abrdn Physical Gold Shares ETF by 5.4% during the fourth quarter. Evelyn Partners Investment Management LLP now owns 10,540 shares of the company’s stock worth $433,000 after purchasing an additional 540 shares during the period. Betterment LLC boosted its position in abrdn Physical Gold Shares ETF by 3.2% in the third quarter. Betterment LLC now owns 17,930 shares of the company’s stock valued at $660,000 after buying an additional 558 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in abrdn Physical Gold Shares ETF by 5.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,630 shares of the company’s stock valued at $478,000 after buying an additional 601 shares during the last quarter.

Key abrdn Physical Gold Shares ETF News

Here are the key news stories impacting abrdn Physical Gold Shares ETF this week:

• Negative Sentiment: Gold broke below long-term trendline support and a key Fibonacci level, raising the risk of a deeper correction for bullion-backed funds. Gold (XAU/USD) Price Forecast: Breakdown Signals Risk of Deeper Correction
• Negative Sentiment: Gold fell under $4,000 for the first time in months, signaling weaker near-term investor sentiment toward the metal. The Price of Gold Sinks Under $4,000 for the First Time Since November
• Negative Sentiment: ING cut its gold and silver forecasts, citing rising yields and a stronger dollar as headwinds that are weighing on precious metals prices. ING Cuts Gold and Silver Forecasts as Rising Yields and Stronger Dollar Weigh on Prices
• Negative Sentiment: Deutsche Bank and BMO both lowered their gold price targets, reinforcing concerns that investor demand is fading amid a hawkish Fed outlook. BMO cuts gold price forecast as Fed’s hawkish shift weighs on precious metals

abrdn Physical Gold Shares ETF Stock Performance

Shares of NYSEARCA SGOL opened at $37.96 on Thursday. The company has a 50 day simple moving average of $42.94 and a two-hundred day simple moving average of $44.38. abrdn Physical Gold Shares ETF has a 12 month low of $31.05 and a 12 month high of $52.84.

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.