Goldman Sachs Physical Gold ETF (BATS:AAAU) Stock Jumps 0.3% – Here’s Why

Goldman Sachs Physical Gold ETF (BATS:AAAU)’s stock price shot up 0.3% during trading on Friday. The company traded as high as $42.37 and last traded at $42.28. Approximately 1,265,289 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 2,608,940 shares. The stock had previously closed at $42.15.

Trending Headlines about Goldman Sachs Physical Gold ETF

Here are the key news stories impacting Goldman Sachs Physical Gold ETF this week:

• Positive Sentiment: Gold held key support near $4,235 and buyers returned, creating a potential short-term bullish reversal. A move above $4,400 could signal a larger recovery for bullion and provide further support for AAAU. Gold Price Forecast: $4,235 Support Holds as Buyers Return
• Positive Sentiment: Lower oil prices, renewed U.S.-Iran diplomacy hopes and a pullback in the dollar and Treasury yields helped precious metals rebound during Friday trading. Gold, Silver, Platinum Forecasts – Gold Attempts to Rebound as Dollar Pulls Back
• Positive Sentiment: Short interest in Goldman Sachs Physical Gold ETF fell 66.7% to 397,927 shares as of September 15, reducing potential selling pressure and indicating less bearish positioning. Short interest now represents approximately 0.6% of shares outstanding.
• Neutral Sentiment: Gold is consolidating around the $4,300 area, with analysts viewing support between roughly $4,235 and $4,300 as important for determining the next major move. Gold’s $4,300 Support Faces Another Test Next Week
• Negative Sentiment: High Treasury yields, a resilient U.S. economy, rising inflation expectations and firm expectations for another Fed rate hike continue to pressure non-yielding gold. Gold has also ended the week lower and recently slipped below its 50-day moving average. Gold Price Hits Low After Consumer Sentiment Rises

Goldman Sachs Physical Gold ETF Stock Up 0.3%

The company’s 50 day moving average price is $42.59 and its two-hundred day moving average price is $43.72.

Institutional Investors Weigh In On Goldman Sachs Physical Gold ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Grey Ledge Advisors LLC raised its holdings in Goldman Sachs Physical Gold ETF by 1.2% during the first quarter. Grey Ledge Advisors LLC now owns 20,439 shares of the company’s stock valued at $944,000 after acquiring an additional 250 shares during the period. Founders Financial Securities LLC increased its holdings in Goldman Sachs Physical Gold ETF by 2.7% in the 4th quarter. Founders Financial Securities LLC now owns 20,284 shares of the company’s stock valued at $863,000 after acquiring an additional 539 shares during the last quarter. Parallel Advisors LLC lifted its stake in Goldman Sachs Physical Gold ETF by 20.9% in the 1st quarter. Parallel Advisors LLC now owns 3,255 shares of the company’s stock worth $150,000 after purchasing an additional 562 shares in the last quarter. Simplicity Wealth LLC lifted its stake in Goldman Sachs Physical Gold ETF by 3.5% in the 1st quarter. Simplicity Wealth LLC now owns 20,079 shares of the company’s stock worth $927,000 after purchasing an additional 674 shares in the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of Goldman Sachs Physical Gold ETF by 8.6% during the 1st quarter. Sigma Planning Corp now owns 8,978 shares of the company’s stock valued at $415,000 after purchasing an additional 709 shares during the last quarter.

Goldman Sachs Physical Gold ETF Company Profile

The Goldman Sachs Physical Gold ETF (AAAU) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in vaults located in the UK. AAAU was launched on Jul 26, 2018 and is issued by Goldman Sachs.