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 mid-day trading on Thursday . The company traded as high as $22.74 and last traded at $22.69, with a volume of 981748 shares changing hands. The stock had previously closed at $22.69.

Sprott Physical Gold Trust Stock Performance

The business’s 50 day simple moving average is $21.15 and its 200 day simple moving average is $20.54.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in Sprott Physical Gold Trust by 2,471.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,859,518 shares of the exchange traded fund’s stock valued at $58,277,000 after acquiring an additional 2,748,335 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Sprott Physical Gold Trust in the 4th quarter valued at $44,631,000. Matauro LLC purchased a new stake in shares of Sprott Physical Gold Trust during the 4th quarter worth $40,017,000. IMC Chicago LLC grew its stake in shares of Sprott Physical Gold Trust by 5,078.7% during the fourth quarter. IMC Chicago LLC now owns 2,025,763 shares of the exchange traded fund’s stock worth $40,799,000 after purchasing an additional 1,986,646 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Sprott Physical Gold Trust by 601.5% in the fourth quarter. Jane Street Group LLC now owns 1,989,077 shares of the exchange traded fund’s stock valued at $40,060,000 after buying an additional 1,705,537 shares during 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.