abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Reaches New 12-Month High – Here’s Why

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $25.62 and last traded at $25.62, with a volume of 61911 shares. The stock had previously closed at $25.42.

abrdn Physical Gold Shares ETF Stock Up 0.6 %

The business’s fifty day moving average price is $24.41 and its two-hundred day moving average price is $23.17.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new stake in abrdn Physical Gold Shares ETF during the 2nd quarter valued at $26,000. Center for Financial Planning Inc. purchased a new stake in shares of abrdn Physical Gold Shares ETF in the second quarter valued at $47,000. Exchange Traded Concepts LLC bought a new stake in shares of abrdn Physical Gold Shares ETF in the 3rd quarter worth about $47,000. GPS Wealth Strategies Group LLC purchased a new position in shares of abrdn Physical Gold Shares ETF during the 2nd quarter worth about $152,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in abrdn Physical Gold Shares ETF during the 2nd quarter valued at about $184,000.

About abrdn Physical Gold Shares ETF

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.