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Franklin Responsibly Sourced Gold ETF (FGDL+0.08%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports that the fund's net asset value (NAV) per share increased from $31.12 to $35.10 during the quarter, driven by a rise in gold prices to $2,629.95 per ounce at the end of the period.
The fund issued 250,000 shares in exchange for 3,336.631 ounces of gold and did not redeem any shares during the quarter.
Net assets increased by $8,997,236 due to a net realized gain from gold sales and a net change in unrealized appreciation on gold investments.
The fund's only recurring expense is the Sponsor's fee of 0.15% of NAV, which amounted to $28,305 for the quarter.
The fund's assets include only gold bullion and cash, with 32,699.485 ounces of gold held at a market value of $85,998,011 as of September 30, 2024.
The fund operates as a passive investment vehicle, with its shares reflecting the performance of gold bullion prices.
The fund is classified as a 'grantor trust' for tax purposes, meaning its income flows through to shareholders.
The fund's financial statements are prepared in accordance with generally accepted accounting principles (GAAP) in the United States.
The fund's shares are listed on the NYSE Arca (ICE+0.69%) under the symbol FGDL and may be purchased by authorized participants in blocks of 50,000 shares.
The fund has no off-balance sheet arrangements and is not subject to any material legal proceedings as of the filing date.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Franklin Responsibly Sourced Gold ETF quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.