abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sets New 12-Month High – Should You Buy?

Shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) hit a new 52-week high on Wednesday . The stock traded as high as $29.00 and last traded at $28.97, with a volume of 4371182 shares. The stock had previously closed at $28.64.

abrdn Physical Gold Shares ETF Trading Down 0.1 %

The stock’s 50 day simple moving average is $27.30 and its two-hundred day simple moving average is $25.93.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

Several institutional investors have recently bought and sold shares of SGOL. Proficio Capital Partners LLC boosted its holdings in abrdn Physical Gold Shares ETF by 2,405.0% in the fourth quarter. Proficio Capital Partners LLC now owns 3,016,596 shares of the company’s stock valued at $75,566,000 after purchasing an additional 2,896,173 shares during the last quarter. Quadrature Capital Ltd purchased a new position in abrdn Physical Gold Shares ETF in the 3rd quarter valued at $35,703,000. Bank of Montreal Can acquired a new position in abrdn Physical Gold Shares ETF during the third quarter worth about $20,710,000. JPMorgan Chase & Co. boosted its holdings in shares of abrdn Physical Gold Shares ETF by 393.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 885,680 shares of the company’s stock worth $22,257,000 after purchasing an additional 706,134 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in abrdn Physical Gold Shares ETF by 25.5% in the 4th quarter. Wells Fargo & Company MN now owns 2,746,627 shares of the company’s stock valued at $68,803,000 after buying an additional 557,840 shares in 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.