Towneley Capital Management Inc DE has decreased its position in the abrdn Physical Gold Shares ETF (NYSEARCA:SGOL) by 14.7% during the second quarter of the year. The information was disclosed in the company’s latest filing with the Securities & Exchange Commission. Following this reduction, Towneley now holds 630,146 shares, having sold 108,642 shares over the past three months.
The abrdn Physical Gold Shares ETF represents 4.6% of Towneley’s total holdings, marking it as the fund’s seventh largest position. As of the end of the recent quarter, Towneley Capital owned approximately 0.38% of the ETF, valued at about $19,875,000.
Several other hedge funds have also adjusted their investments in SGOL in recent months. For instance, Envestnet Portfolio Solutions Inc increased its stake in the ETF by 85.7% during the first quarter, now owning 103,130 shares worth $3,075,000. This increase came after the firm purchased an additional 47,593 shares.
Additionally, Advisor Resource Council acquired a new stake in the ETF valued at approximately $259,000, while Flagship Harbor Advisors LLC also took a new position worth about $291,000. XML Financial LLC raised its holdings by 12.7%, now owning 17,700 shares valued at $528,000 after adding 2,000 shares. Finally, Oppenheimer & Co. Inc. made a new investment in the ETF worth around $230,000.
The current performance of the abrdn Physical Gold Shares ETF reflects its market activity. On Tuesday, SGOL stock opened at $41.74, with a 52-week low of $24.41 and a high of $41.77. The ETF’s 50-day moving average stands at $35.24, while its 200-day moving average is $32.86.
The abrdn Physical Gold Shares ETF, launched on September 9, 2009, aims to track the spot price of gold, minus trust expenses and holding costs, by holding physical gold bars. The ETF is managed by Abrdn, a well-regarded investment firm.
As investment patterns shift, these changes in stock positions highlight the dynamic nature of fund management and the ongoing interest in gold as a commodity.
