abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Short Interest Up 53.0% in August

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 1,269,228 shares, an increase of 53.0% from the July 30th total of 829,651 shares. Based on an average daily volume of 1,801,379 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.7% of the company’s stock are sold short.

abrdn Physical Gold Shares ETF Trading Up 1.1%

Shares of SGOL stock traded up $0.46 during trading on Wednesday, reaching $41.65. The company’s stock had a trading volume of 232,636 shares, compared to its average volume of 4,459,622. abrdn Physical Gold Shares ETF has a 1-year low of $33.70 and a 1-year high of $52.84. The stock’s 50-day moving average price is $40.14 and its 200 day moving average price is $43.09.

Institutional Trading of abrdn Physical Gold Shares ETF

Several hedge funds have recently modified their holdings of SGOL. JPMorgan Chase & Co. grew its stake in abrdn Physical Gold Shares ETF by 5.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,367,518 shares of the company’s stock worth $179,418,000 after purchasing an additional 238,704 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of abrdn Physical Gold Shares ETF by 2.6% in the 3rd quarter. Bank of America Corp DE now owns 3,743,548 shares of the company’s stock valued at $137,800,000 after buying an additional 96,381 shares during the period. Wells Fargo & Company MN grew its position in shares of abrdn Physical Gold Shares ETF by 2.6% during the fourth quarter. Wells Fargo & Company MN now owns 3,026,827 shares of the company’s stock worth $124,342,000 after buying an additional 77,300 shares in the last quarter. Morgan Stanley grew its position in shares of abrdn Physical Gold Shares ETF by 5.7% during the fourth quarter. Morgan Stanley now owns 2,319,730 shares of the company’s stock worth $95,295,000 after buying an additional 124,404 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of abrdn Physical Gold Shares ETF by 17.1% during the fourth quarter. LPL Financial LLC now owns 2,059,659 shares of the company’s stock worth $84,611,000 after buying an additional 300,746 shares in the last quarter.

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.