abrdn Physical Gold Shares ETF $SGOL is Guardian Point Capital LP’s 3rd Largest Position

Guardian Point Capital LP trimmed its stake in abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 53.8% in the first quarter, HoldingsChannel.com reports. The fund owned 600,000 shares of the company’s stock after selling 700,000 shares during the quarter. abrdn Physical Gold Shares ETF comprises approximately 11.0% of Guardian Point Capital LP’s portfolio, making the stock its 3rd biggest position. Guardian Point Capital LP’s holdings in abrdn Physical Gold Shares ETF were worth $26,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Smartleaf Asset Management LLC acquired a new stake in shares of abrdn Physical Gold Shares ETF during the fourth quarter valued at $27,000. Sound Income Strategies LLC raised its stake in abrdn Physical Gold Shares ETF by 97.9% in the 1st quarter. Sound Income Strategies LLC now owns 831 shares of the company’s stock valued at $38,000 after purchasing an additional 411 shares during the last quarter. BNP Paribas acquired a new position in abrdn Physical Gold Shares ETF in the 2nd quarter valued at about $39,000. Eastern Bank purchased a new position in abrdn Physical Gold Shares ETF in the 4th quarter valued at about $47,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in abrdn Physical Gold Shares ETF in the 4th quarter valued at about $51,000.

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 and silver are moving higher as traders focus on falling Treasury yields, which can support non-yielding assets like gold. Gold, Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: China’s June gold imports hit a fresh two-year high, suggesting lower prices are boosting physical demand in the world’s largest bullion market. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Gold remains a strategic holding for some large investors, with BlackRock’s Koesterich saying investors should still keep a modest allocation to the metal. Investors should still hold a modest amount of gold – BlackRock’s Koesterich
• Positive Sentiment: Gold rebounded as peace-talk hopes cooled oil prices and Treasury yields, easing some of the pressure that had weighed on the metal. Gold (XAUUSD) Price Forecast: Gold Recovers as Peace Talk Report Cools Oil
• Neutral Sentiment: Gold is still consolidating around the $4,000 level, with technical support holding but resistance near the recent highs limiting upside momentum. Gold Price Analysis – Gold Defends $4,000 Support Floor as High Rates Cap Gains
• Neutral Sentiment: Analysts continue to say gold is trapped between support and resistance, suggesting SGOL may remain range-bound unless yields, the dollar, or central bank demand shift more decisively. Gold Price Analysis – Gold Trapped Between $4,000 Support and $4,200 Resistance
• Negative Sentiment: Gold has also faced headwinds from a stronger U.S. dollar, higher rate expectations, and solid labor data, all of which can reduce demand for bullion. Gold Declines On Stronger Dollar, Fed Rate Hike Prospects

abrdn Physical Gold Shares ETF Stock Up 0.1%

abrdn Physical Gold Shares ETF stock opened at $38.59 on Friday. abrdn Physical Gold Shares ETF has a 12-month low of $31.16 and a 12-month high of $52.84. The firm’s 50-day moving average is $40.28 and its two-hundred day moving average is $43.96.

abrdn Physical Gold Shares ETF 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.