abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Short Interest Up 53.0% in August

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,269,228 shares, a growth of 53.0% from the July 30th total of 829,651 shares. Based on an average daily volume of 1,801,379 shares, the short-interest ratio is presently 0.7 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SGOL. Smartleaf Asset Management LLC bought a new position in shares of abrdn Physical Gold Shares ETF during the 4th quarter worth $27,000. Sound Income Strategies LLC increased its holdings in abrdn Physical Gold Shares ETF by 97.9% in the 1st quarter. Sound Income Strategies LLC now owns 831 shares of the company’s stock worth $38,000 after acquiring an additional 411 shares during the last quarter. BNP Paribas bought a new stake in abrdn Physical Gold Shares ETF in the 2nd quarter valued at about $39,000. NBT Bank N A NY raised its stake in abrdn Physical Gold Shares ETF by 4,290.2% in the 1st quarter. NBT Bank N A NY now owns 1,800 shares of the company’s stock valued at $80,000 after acquiring an additional 1,759 shares during the period. Finally, McIlrath & Eck LLC bought a new stake in abrdn Physical Gold Shares ETF in the 1st quarter valued at about $87,000.

abrdn Physical Gold Shares ETF Trading Up 1.5%

Shares of NYSEARCA:SGOL opened at $41.81 on Thursday. abrdn Physical Gold Shares ETF has a 52-week low of $33.70 and a 52-week high of $52.84. The business’s 50 day simple moving average is $40.22 and its two-hundred day simple moving average is $43.05.

Key Headlines Impacting abrdn Physical Gold Shares ETF

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

• Positive Sentiment: Gold rebounded from support near $4,283 after buyers reclaimed previously broken technical levels, improving the near-term outlook and potentially opening a path toward $4,472 and higher. Gold Price Reverses From $4,283 as Buyers Reclaim Support
• Positive Sentiment: Goldman Sachs projected gold could reach $4,900 per ounce by year-end, citing strong central-bank demand to diversify foreign-exchange reserves. Investor hedging through derivatives could further amplify price moves, supporting upside for SGOL but also increasing volatility. Goldman Sachs Gold Price Forecast
• Positive Sentiment: August private-sector job creation came in below expectations at 38,000, raising concerns about labor-market weakness. A softer economy could eventually reduce interest-rate pressure and benefit non-yielding gold. US Labor Market ADP Report
• Neutral Sentiment: Gold bounced from a key retracement zone, but the recovery remains constrained by elevated Treasury yields and expectations for a possible September Federal Reserve rate hike. Gold Price Forecast and Treasury Yields
• Negative Sentiment: Higher yields, a stronger dollar and renewed expectations for a hawkish Fed have pressured gold, while higher oil prices linked to U.S.-Iran tensions may increase inflation and rate-hike risks. Gold Forecast Amid Iran and Fed Risks

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.