abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Hits New 12-Month High – Still a Buy?

Shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $28.17 and last traded at $28.16, with a volume of 201993 shares traded. The stock had previously closed at $27.98.

abrdn Physical Gold Shares ETF Stock Performance

The firm’s 50 day moving average price is $26.88 and its 200-day moving average price is $25.74.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

Several hedge funds have recently modified their holdings of SGOL. Main Street Group LTD purchased a new stake in shares of abrdn Physical Gold Shares ETF during the 4th quarter worth about $30,000. Centerpoint Advisors LLC acquired a new stake in abrdn Physical Gold Shares ETF in the 4th quarter worth about $81,000. FMR LLC boosted its holdings in abrdn Physical Gold Shares ETF by 18.1% in the 3rd quarter. FMR LLC now owns 4,250 shares of the company’s stock worth $107,000 after buying an additional 652 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in abrdn Physical Gold Shares ETF by 239.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,325 shares of the company’s stock worth $158,000 after buying an additional 4,461 shares during the last quarter. Finally, Congress Wealth Management LLC DE acquired a new stake in abrdn Physical Gold Shares ETF in the 4th quarter worth about $204,000.

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.