McIlrath & Eck LLC Invests $4.89 Million in Sprott Physical Gold Trust $PHYS

McIlrath & Eck LLC purchased a new stake in Sprott Physical Gold Trust (NYSEARCA:PHYS) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 137,968 shares of the exchange traded fund’s stock, valued at approximately $4,890,000.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in Sprott Physical Gold Trust during the first quarter worth approximately $260,000. Focus Partners Wealth acquired a new position in shares of Sprott Physical Gold Trust in the 1st quarter valued at $200,000. Cerity Partners LLC boosted its holdings in shares of Sprott Physical Gold Trust by 14.0% in the 2nd quarter. Cerity Partners LLC now owns 77,964 shares of the exchange traded fund’s stock valued at $1,976,000 after buying an additional 9,585 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Sprott Physical Gold Trust by 43.6% in the 2nd quarter. NewEdge Advisors LLC now owns 91,329 shares of the exchange traded fund’s stock valued at $2,315,000 after buying an additional 27,724 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Sprott Physical Gold Trust in the 2nd quarter valued at $489,000.

Sprott Physical Gold Trust Trading Up 1.7%

Shares of NYSEARCA:PHYS opened at $31.09 on Friday. Sprott Physical Gold Trust has a 12 month low of $25.15 and a 12 month high of $42.07. The company’s fifty day moving average price is $31.63 and its 200 day moving average price is $34.85.

Sprott Physical Gold Trust 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. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.