Channing Global Advisors LLC Trims Stock Position in abrdn Physical Gold Shares ETF $SGOL

Channing Global Advisors LLC lessened its holdings in abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 38.3% during the 4th quarter, Holdings Channel reports. The firm owned 47,220 shares of the company’s stock after selling 29,319 shares during the quarter. abrdn Physical Gold Shares ETF comprises 1.2% of Channing Global Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Channing Global Advisors LLC’s holdings in abrdn Physical Gold Shares ETF were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the business. Northeast Financial Group Inc. lifted its holdings in shares of abrdn Physical Gold Shares ETF by 3.3% in the third quarter. Northeast Financial Group Inc. now owns 9,094 shares of the company’s stock valued at $335,000 after purchasing an additional 290 shares in the last quarter. Berkeley Capital Partners LLC lifted its holdings in shares of abrdn Physical Gold Shares ETF by 2.6% in the third quarter. Berkeley Capital Partners LLC now owns 12,383 shares of the company’s stock valued at $456,000 after purchasing an additional 314 shares in the last quarter. Prospera Financial Services Inc lifted its holdings in shares of abrdn Physical Gold Shares ETF by 3.9% in the third quarter. Prospera Financial Services Inc now owns 9,316 shares of the company’s stock valued at $343,000 after purchasing an additional 347 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of abrdn Physical Gold Shares ETF by 3.4% in the third quarter. Ashton Thomas Private Wealth LLC now owns 10,938 shares of the company’s stock valued at $403,000 after purchasing an additional 355 shares in the last quarter. Finally, Barnes Wealth Management Group Inc lifted its holdings in shares of abrdn Physical Gold Shares ETF by 4.1% in the third quarter. Barnes Wealth Management Group Inc now owns 9,876 shares of the company’s stock valued at $364,000 after purchasing an additional 390 shares in the last quarter.

abrdn Physical Gold Shares ETF Price Performance

Shares of NYSEARCA SGOL opened at $42.94 on Tuesday. abrdn Physical Gold Shares ETF has a 12-month low of $31.05 and a 12-month high of $52.84. The firm’s 50-day moving average is $44.46 and its two-hundred day moving average is $44.10.

Trending Headlines about abrdn Physical Gold Shares ETF

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

• Positive Sentiment: Gold prices rose as hopes for a U.S.-Iran deal, a weaker U.S. dollar, lower Treasury-yield expectations, and a sharp drop in crude oil supported precious metals. Gold, Silver Rise on Hopes for U.S.-Iran Deal
• Positive Sentiment: Gold continued to rally in holiday trading, with Middle East headlines keeping demand for safe-haven assets elevated. Gold Price Analysis – Gold Rallies in Holiday Trading
• Positive Sentiment: Analysts said lower oil prices and weakness in the dollar and Treasury yields are fueling a rebound in gold and silver, which can lift gold-backed ETFs like SGOL. Gold and Silver Price Forecast: Weak Dollar and Oil Drop Fuel Rebound
• Positive Sentiment: Commentary from SPI Asset Management suggested the recent gold selloff may have been tied to forced sovereign liquidations, and that weaker growth could eventually revive dovish central bank policy and support a longer-term gold bull market. Gold’s forced sovereign liquidations could pave the way for the metal’s next great bull run – SPI’s Stephen Innes
• Neutral Sentiment: Russia’s central bank cut its gold reserves for a fourth straight month, highlighting sovereign balance-sheet pressure, but the direct impact on SGOL is unclear. Russia’s sovereign gold reserves plunge 5.7 tonnes in April to 24-year low amid mounting deficits

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.