abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sets New 12-Month Low – What’s Next?

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) reached a new 52-week low during trading on Thursday. The company traded as low as $36.67 and last traded at $36.7550, with a volume of 1,324,363 shares changing hands. The stock had previously closed at $37.93.

abrdn Physical Gold Shares ETF Stock Down 2.9%

The firm has a 50 day simple moving average of $39.76 and a two-hundred day simple moving average of $42.57.

Institutional Trading of abrdn Physical Gold Shares ETF

A number of hedge funds have recently modified their holdings of the company. TIAA CREF Individual & Institutional Services LLC raised its position in shares of abrdn Physical Gold Shares ETF by 8.1% in the 3rd quarter. TIAA CREF Individual & Institutional Services LLC now owns 7,979 shares of the company’s stock valued at $316,000 after acquiring an additional 600 shares during the period. Whittier Trust Co. grew its holdings in abrdn Physical Gold Shares ETF by 6.2% during the third quarter. Whittier Trust Co. now owns 31,928 shares of the company’s stock valued at $1,275,000 after purchasing an additional 1,859 shares during the period. Patron Partners LLC increased its stake in abrdn Physical Gold Shares ETF by 17.5% in the third quarter. Patron Partners LLC now owns 12,520 shares of the company’s stock valued at $495,000 after purchasing an additional 1,868 shares in the last quarter. Madden Advisory Services Inc. grew its holdings in shares of abrdn Physical Gold Shares ETF by 10.3% in the 3rd quarter. Madden Advisory Services Inc. now owns 21,621 shares of the company’s stock valued at $855,000 after buying an additional 2,013 shares during the period. Finally, Finhabits Advisors LLC grew its stake in abrdn Physical Gold Shares ETF by 9.7% in the third quarter. Finhabits Advisors LLC now owns 12,486 shares of the company’s stock valued at $494,000 after acquiring an additional 1,108 shares during the period.

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.