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 large growth in short interest in August. As of August 14th, there was short interest totaling 1,269,228 shares, a growth 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 currently 0.7 days. Currently, 0.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On abrdn Physical Gold Shares ETF

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of abrdn Physical Gold Shares ETF by 5.8% during the fourth 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 during the period. Bank of America Corp DE raised its holdings in abrdn Physical Gold Shares ETF by 2.6% during the 3rd quarter. Bank of America Corp DE now owns 3,743,548 shares of the company’s stock worth $137,800,000 after buying an additional 96,381 shares during the period. Wells Fargo & Company MN raised its holdings in abrdn Physical Gold Shares ETF by 2.6% during the 4th 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 during the period. Morgan Stanley lifted its stake in 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 valued at $95,295,000 after buying an additional 124,404 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in 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 valued at $84,611,000 after buying an additional 300,746 shares in the last quarter.

abrdn Physical Gold Shares ETF Stock Down 2.0%

SGOL stock traded down $0.86 on Tuesday, hitting $41.54. 324,010 shares of the company’s stock traded hands, compared to its average volume of 4,470,327. abrdn Physical Gold Shares ETF has a 1-year low of $33.17 and a 1-year high of $52.84. The stock has a fifty day moving average of $40.10 and a 200-day moving average of $43.14.

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.