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

WorthPointe LLC reduced its position in shares of abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 38.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SGOL. Waverly Advisors LLC grew its stake in shares of abrdn Physical Gold Shares ETF by 3,435.6% in the 1st 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 last quarter. Jain Global LLC acquired a new stake in abrdn Physical Gold Shares ETF during the fourth quarter valued at approximately $26,465,000. E Fund Management Co. Ltd. boosted its holdings in abrdn Physical Gold Shares ETF by 530.3% during the second 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 bought a new position in shares of abrdn Physical Gold Shares ETF in the first quarter valued at $13,671,000. Finally, LPL Financial LLC lifted its position 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 acquiring an additional 300,746 shares during the last quarter.

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

abrdn Physical Gold Shares ETF Price Performance

SGOL opened at $41.81 on Thursday. The business has a fifty day simple moving average of $40.22 and a 200-day simple moving average of $43.05. abrdn Physical Gold Shares ETF has a fifty-two week low of $33.70 and a fifty-two week high of $52.84.

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.