abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Stock Short Interest Declines 51.9%

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 962,782 shares, a decline of 51.9% from the September 15th total of 2,003,540 shares. Based on an average daily volume of 2,935,748 shares, the short-interest ratio is currently 0.3 days. Approximately 0.5% of the shares of the company are sold short.

abrdn Physical Gold Shares ETF Stock Performance

SGOL traded up $0.71 during midday trading on Thursday, reaching $39.74. The company had a trading volume of 1,942,862 shares, compared to its average volume of 4,196,013. The business has a 50-day moving average of $41.28 and a two-hundred day moving average of $41.59. abrdn Physical Gold Shares ETF has a 1 year low of $37.31 and a 1 year high of $52.84.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SGOL. Sound Income Strategies LLC lifted its position in abrdn Physical Gold Shares ETF by 97.9% during the first quarter. Sound Income Strategies LLC now owns 831 shares of the company’s stock valued at $38,000 after purchasing an additional 411 shares during the last quarter. NBT Bank N A NY grew its stake in shares of 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 worth $80,000 after buying an additional 1,759 shares in the last quarter. McIlrath & Eck LLC bought a new stake in shares of abrdn Physical Gold Shares ETF in the 1st quarter worth about $87,000. Capital Advisors Ltd. LLC bought a new stake in shares of abrdn Physical Gold Shares ETF in the 1st quarter worth about $91,000. Finally, Main Street Group LTD purchased a new stake in shares of abrdn Physical Gold Shares ETF during the 1st quarter valued at about $105,000.

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.