abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Sees Unusually-High Trading Volume – Here’s Why

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) shares saw unusually-high trading volume on Friday . Approximately 3,599,106 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 4,590,395 shares.The stock last traded at $27.09 and had previously closed at $27.42.

abrdn Physical Gold Shares ETF Price Performance

The company’s fifty day moving average is $26.43 and its two-hundred day moving average is $25.52.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

Hedge funds have recently bought and sold shares of the stock. Main Street Group LTD purchased a new stake in abrdn Physical Gold Shares ETF in the 4th quarter worth approximately $30,000. Centerpoint Advisors LLC purchased a new stake in abrdn Physical Gold Shares ETF in the 4th quarter worth approximately $81,000. FMR LLC boosted its position in abrdn Physical Gold Shares ETF by 18.1% in the 3rd 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. Exchange Traded Concepts LLC lifted its position in shares of abrdn Physical Gold Shares ETF by 239.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,325 shares of the company’s stock valued at $158,000 after buying an additional 4,461 shares in the last quarter. Finally, Modern Wealth Management LLC purchased a new position in shares of abrdn Physical Gold Shares ETF during the 4th quarter valued at approximately $223,000.

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.