Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 1-Year High – Here’s What Happened

Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $33.31 and last traded at $32.9390, with a volume of 903365 shares. The stock had previously closed at $32.72.

Sprott Physical Gold Trust Price Performance

The firm has a fifty day moving average of $31.27 and a 200-day moving average of $28.05.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of hedge funds have recently made changes to their positions in PHYS. Ameriflex Group Inc. grew its stake in shares of Sprott Physical Gold Trust by 66.7% in the second quarter. Ameriflex Group Inc. now owns 1,000 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 400 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in Sprott Physical Gold Trust in the second quarter worth about $25,000. Tradewinds Capital Management LLC grew its position in Sprott Physical Gold Trust by 59.8% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,088 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 407 shares in the last quarter. MTM Investment Management LLC bought a new position in Sprott Physical Gold Trust in the 2nd quarter valued at about $30,000. Finally, Hilltop National Bank bought a new stake in shares of Sprott Physical Gold Trust during the 2nd quarter worth about $32,000.

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.