Sprott Physical Gold Trust (NYSEARCA:PHYS) Sets New 1-Year High – Here’s Why

Sprott Physical Gold Trust (NYSEARCA:PHYS) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $21.43 and last traded at $21.42, with a volume of 63799 shares traded. The stock had previously closed at $21.30.

Sprott Physical Gold Trust Trading Up 0.6 %

The stock’s 50-day simple moving average is $20.31 and its two-hundred day simple moving average is $19.07.

Hedge Funds Weigh In On Sprott Physical Gold Trust

A number of institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC grew its position in Sprott Physical Gold Trust by 88.8% in the 1st quarter. Private Advisor Group LLC now owns 777,048 shares of the exchange traded fund’s stock worth $13,443,000 after purchasing an additional 365,371 shares during the last quarter. Fidelis Capital Partners LLC grew its position in Sprott Physical Gold Trust by 1,039.8% during the first quarter. Fidelis Capital Partners LLC now owns 550,280 shares of the exchange traded fund’s stock worth $9,520,000 after buying an additional 502,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Sprott Physical Gold Trust by 15.9% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 48,717 shares of the exchange traded fund’s stock valued at $842,000 after acquiring an additional 6,684 shares during the period. Schwarz Dygos Wheeler Investment Advisors LLC increased its stake in Sprott Physical Gold Trust by 0.7% during the first quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 772,517 shares of the exchange traded fund’s stock valued at $13,365,000 after acquiring an additional 5,280 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Sprott Physical Gold Trust by 28.5% in the 1st quarter. Larson Financial Group LLC now owns 19,885 shares of the exchange traded fund’s stock valued at $344,000 after acquiring an additional 4,410 shares in the last quarter.

Sprott Physical Gold Trust Company Profile

Sprott Physical Gold Trust operates as a closed-end investment trust, which engages in investing and holding all of its assets in physical gold bullion. Its investment objective is to provide a secure, convenient, and exchange-traded investment alternative for investors through investing primarily in long-term holdings of unencumbered, fully allocated, physical gold bullion and will not speculate with regard to short-term changes in gold prices.