abrdn Physical Gold Shares ETF $SGOL Position Trimmed by WorthPointe LLC

WorthPointe LLC decreased its holdings in abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 38.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,220 shares of the company’s stock after selling 12,479 shares during the period. WorthPointe LLC’s holdings in abrdn Physical Gold Shares ETF were worth $773,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SGOL. Waverly Advisors LLC boosted its holdings in shares of abrdn Physical Gold Shares ETF by 3,435.6% during the first quarter. Waverly Advisors LLC now owns 953,728 shares of the company’s stock worth $42,555,000 after purchasing an additional 926,753 shares during the period. Jain Global LLC acquired a new position in abrdn Physical Gold Shares ETF in the 4th quarter valued at approximately $26,465,000. E Fund Management Co. Ltd. lifted its position in abrdn Physical Gold Shares ETF by 530.3% in the 2nd quarter. E Fund Management Co. Ltd. now owns 753,291 shares of the company’s stock worth $23,759,000 after buying an additional 633,786 shares in the last quarter. Norris Financial Group LLC purchased a new stake in abrdn Physical Gold Shares ETF in the 1st quarter worth approximately $13,671,000. Finally, LPL Financial LLC boosted its stake in shares of abrdn Physical Gold Shares ETF by 17.1% during the 4th quarter. LPL Financial LLC now owns 2,059,659 shares of the company’s stock valued at $84,611,000 after buying an additional 300,746 shares during the period.

abrdn Physical Gold Shares ETF Stock Performance

abrdn Physical Gold Shares ETF stock opened at $41.81 on Thursday. abrdn Physical Gold Shares ETF has a 12 month low of $33.70 and a 12 month high of $52.84. The company’s fifty day simple moving average is $40.22 and its 200-day simple moving average is $43.05.

abrdn Physical Gold Shares ETF News Summary

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

• Positive Sentiment: Gold rebounded from support near $4,283 after buyers reclaimed previously broken technical levels, improving the near-term outlook and potentially opening a path toward $4,472 and higher. Gold Price Reverses From $4,283 as Buyers Reclaim Support
• Positive Sentiment: Goldman Sachs projected gold could reach $4,900 per ounce by year-end, citing strong central-bank demand to diversify foreign-exchange reserves. Investor hedging through derivatives could further amplify price moves, supporting upside for SGOL but also increasing volatility. Goldman Sachs Gold Price Forecast
• Positive Sentiment: August private-sector job creation came in below expectations at 38,000, raising concerns about labor-market weakness. A softer economy could eventually reduce interest-rate pressure and benefit non-yielding gold. US Labor Market ADP Report
• Neutral Sentiment: Gold bounced from a key retracement zone, but the recovery remains constrained by elevated Treasury yields and expectations for a possible September Federal Reserve rate hike. Gold Price Forecast and Treasury Yields
• Negative Sentiment: Higher yields, a stronger dollar and renewed expectations for a hawkish Fed have pressured gold, while higher oil prices linked to U.S.-Iran tensions may increase inflation and rate-hike risks. Gold Forecast Amid Iran and Fed Risks

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.