Allen Capital Group LLC Reduces Stock Position in abrdn Physical Gold Shares ETF $SGOL

Allen Capital Group LLC lessened its stake in shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 21.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 464,245 shares of the company’s stock after selling 123,169 shares during the quarter. abrdn Physical Gold Shares ETF accounts for about 1.7% of Allen Capital Group LLC’s portfolio, making the stock its 11th biggest position. Allen Capital Group LLC’s holdings in abrdn Physical Gold Shares ETF were worth $19,071,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Metis Global Partners LLC boosted its holdings in shares of abrdn Physical Gold Shares ETF by 26.7% during the 3rd quarter. Metis Global Partners LLC now owns 6,808,591 shares of the company’s stock valued at $250,624,000 after acquiring an additional 1,434,787 shares during the last quarter. Bank of America Corp DE raised its stake in abrdn Physical Gold Shares ETF by 2.6% during the 3rd quarter. Bank of America Corp DE now owns 3,743,548 shares of the company’s stock worth $137,800,000 after acquiring an additional 96,381 shares during the period. HighTower Advisors LLC raised its stake in abrdn Physical Gold Shares ETF by 0.8% during the 3rd quarter. HighTower Advisors LLC now owns 1,865,275 shares of the company’s stock worth $68,661,000 after acquiring an additional 15,245 shares during the period. UBS Group AG raised its stake in abrdn Physical Gold Shares ETF by 2.6% during the 4th quarter. UBS Group AG now owns 1,736,674 shares of the company’s stock worth $71,343,000 after acquiring an additional 44,164 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in abrdn Physical Gold Shares ETF by 6.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,049,641 shares of the company’s stock worth $38,637,000 after acquiring an additional 60,661 shares during the period.

More abrdn Physical Gold Shares ETF News

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

• Negative Sentiment: Spot gold fell as traders reacted to stronger Treasury yields, a firmer dollar, and hawkish Fed inflation/rate language, which weighed on the metal and SGOL. Gold weakens as U.S.-Iran talks keep oil, rates in focus – Kitco PM Report
• Negative Sentiment: Multiple analysts said gold was losing ground because markets were increasingly focused on Fed rate-hike risk and sticky inflation, reducing demand for non-yielding assets like gold. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back As Traders Worry About Hawkish Fed
• Negative Sentiment: Gold also broke lower technically and traded near session lows after weak consumer sentiment data was overshadowed by rising inflation expectations and persistent rate concerns. Spot gold hits session low near $4,500/oz after final Consumer Sentiment drops to 44.8, one-year and long-term inflation expectations rise
• Neutral Sentiment: Some reports noted gold is still holding key support and remains in a broader bullish long-term structure, but near-term trading has turned choppy as investors wait for a clearer catalyst. Gold (XAU/USD) Price Forecast: Compression Signals Major Breakout Potential
• Neutral Sentiment: Gold is still being supported by geopolitical uncertainty and bond-market volatility, but those tailwinds have been offset by rate worries and a stronger dollar, leaving prices range-bound. Gold, silver prices remain caught between rate hike fears and bond market stress

abrdn Physical Gold Shares ETF Stock Performance

NYSEARCA SGOL opened at $42.94 on Monday. abrdn Physical Gold Shares ETF has a 12 month low of $31.05 and a 12 month high of $52.84. The company’s 50 day moving average is $44.57 and its two-hundred day moving average is $44.06.

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.