abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sees Unusually-High Trading Volume – Still a Buy?

Shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) saw strong trading volume on Friday . 3,599,106 shares changed hands during trading, a decline of 22% from the previous session’s volume of 4,590,395 shares.The stock last traded at $27.09 and had previously closed at $27.42.

abrdn Physical Gold Shares ETF Stock Down 0.6 %

The company’s 50 day moving average price is $26.39 and its 200-day moving average price is $25.48.

Hedge Funds Weigh In On abrdn Physical Gold Shares ETF

A number of hedge funds and other institutional investors have recently modified their holdings of SGOL. Blue Bell Private Wealth Management LLC increased its position in shares of abrdn Physical Gold Shares ETF by 0.6% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 60,661 shares of the company’s stock valued at $1,520,000 after acquiring an additional 370 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of abrdn Physical Gold Shares ETF by 1.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 22,479 shares of the company’s stock valued at $571,000 after purchasing an additional 388 shares during the last quarter. Mutual Advisors LLC raised its stake in shares of abrdn Physical Gold Shares ETF by 0.9% during the 4th quarter. Mutual Advisors LLC now owns 62,389 shares of the company’s stock worth $1,617,000 after purchasing an additional 554 shares during the period. True North Advisors LLC raised its stake in shares of abrdn Physical Gold Shares ETF by 0.6% during the 4th quarter. True North Advisors LLC now owns 91,932 shares of the company’s stock worth $2,303,000 after purchasing an additional 575 shares during the period. Finally, Beaumont Financial Advisors LLC boosted its holdings in shares of abrdn Physical Gold Shares ETF by 3.7% in the 4th quarter. Beaumont Financial Advisors LLC now owns 17,025 shares of the company’s stock worth $426,000 after buying an additional 600 shares during the last quarter.

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.