abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) Shares Shorted: Short Interest Down 51.9% in September

abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 962,782 shares, a drop of 51.9% from the September 15th total of 2,003,540 shares. Based on an average trading volume of 2,935,748 shares, the short-interest ratio is presently 0.3 days. Currently, 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Independent Wealth Network Inc. grew its holdings in abrdn Physical Gold Shares ETF by 3.0% during the first quarter. Independent Wealth Network Inc. now owns 7,678 shares of the company’s stock worth $343,000 after acquiring an additional 221 shares during the period. Sachetta LLC lifted its stake in shares of abrdn Physical Gold Shares ETF by 8.2% in the first quarter. Sachetta LLC now owns 3,165 shares of the company’s stock valued at $141,000 after purchasing an additional 240 shares during the period. Western Wealth Management LLC lifted its stake in shares of abrdn Physical Gold Shares ETF by 1.0% in the first quarter. Western Wealth Management LLC now owns 24,659 shares of the company’s stock valued at $1,100,000 after purchasing an additional 242 shares during the period. Xcel Wealth Management LLC grew its position in abrdn Physical Gold Shares ETF by 0.6% during the first quarter. Xcel Wealth Management LLC now owns 55,835 shares of the company’s stock worth $2,491,000 after buying an additional 306 shares during the period. Finally, Compound Planning Inc. increased its holdings in abrdn Physical Gold Shares ETF by 0.4% in the first quarter. Compound Planning Inc. now owns 85,404 shares of the company’s stock valued at $3,811,000 after buying an additional 360 shares in the last quarter.

abrdn Physical Gold Shares ETF Price Performance

SGOL traded down $0.60 during trading hours on Wednesday, reaching $39.03. 3,880,786 shares of the company’s stock traded hands, compared to its average volume of 4,207,349. The firm has a 50-day moving average price of $41.33 and a 200 day moving average price of $41.64. abrdn Physical Gold Shares ETF has a 52-week low of $37.31 and a 52-week high of $52.84.

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.