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

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.32 and last traded at $22.20, with a volume of 4291103 shares. The stock had previously closed at $22.03.

Sprott Physical Gold Trust Stock Up 0.8 %

The company has a 50 day simple moving average of $20.67 and a 200-day simple moving average of $20.23.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of PHYS. Smartleaf Asset Management LLC acquired a new stake in Sprott Physical Gold Trust in the 4th quarter valued at $40,000. Crown Wealth Group LLC increased its position in shares of Sprott Physical Gold Trust by 17.2% in the fourth quarter. Crown Wealth Group LLC now owns 25,862 shares of the exchange traded fund’s stock valued at $521,000 after acquiring an additional 3,791 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Sprott Physical Gold Trust by 1,536.2% during the fourth quarter. Proficio Capital Partners LLC now owns 746,124 shares of the exchange traded fund’s stock worth $15,027,000 after acquiring an additional 700,524 shares in the last quarter. Nwam LLC boosted its position in Sprott Physical Gold Trust by 0.9% during the fourth quarter. Nwam LLC now owns 62,364 shares of the exchange traded fund’s stock valued at $1,256,000 after purchasing an additional 557 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. grew its stake in Sprott Physical Gold Trust by 29.6% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 21,250 shares of the exchange traded fund’s stock valued at $428,000 after purchasing an additional 4,850 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.