abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Hits New 1-Year High – Still a Buy?

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $27.16 and last traded at $27.16, with a volume of 4697939 shares traded. The stock had previously closed at $26.89.

abrdn Physical Gold Shares ETF Stock Performance

The company’s 50-day moving average price is $25.64 and its 200-day moving average price is $24.98.

Hedge Funds Weigh In On abrdn Physical Gold Shares ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC raised its holdings in abrdn Physical Gold Shares ETF by 0.6% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 60,661 shares of the company’s stock valued at $1,520,000 after acquiring an additional 370 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of abrdn Physical Gold Shares ETF by 0.9% in the 4th quarter. Mutual Advisors LLC now owns 62,389 shares of the company’s stock valued at $1,617,000 after purchasing an additional 554 shares in the last quarter. True North Advisors LLC lifted its position in shares of abrdn Physical Gold Shares ETF by 0.6% during the 4th quarter. True North Advisors LLC now owns 91,932 shares of the company’s stock worth $2,303,000 after purchasing an additional 575 shares during the last quarter. Beaumont Financial Advisors LLC grew its stake in shares of abrdn Physical Gold Shares ETF by 3.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 17,025 shares of the company’s stock worth $426,000 after purchasing an additional 600 shares in the last quarter. Finally, FMR LLC grew its stake in shares of abrdn Physical Gold Shares ETF by 18.1% during the third quarter. FMR LLC now owns 4,250 shares of the company’s stock worth $107,000 after purchasing an additional 652 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.