Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 52-Week High – What’s Next?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $25.46 and last traded at $25.41, with a volume of 1505905 shares changing hands. The stock had previously closed at $24.86.

Sprott Physical Gold Trust Trading Up 2.4 %

The firm has a 50-day moving average of $23.13 and a 200-day moving average of $21.54.

Institutional Trading of Sprott Physical Gold Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in Sprott Physical Gold Trust in the fourth quarter valued at about $39,000. Smartleaf Asset Management LLC bought a new position in shares of Sprott Physical Gold Trust in the fourth quarter worth about $40,000. Smithfield Trust Co purchased a new position in shares of Sprott Physical Gold Trust during the 4th quarter valued at about $50,000. Creative Financial Designs Inc. ADV purchased a new stake in Sprott Physical Gold Trust in the 4th quarter worth approximately $50,000. Finally, NBC Securities Inc. raised its stake in Sprott Physical Gold Trust by 111,150.0% during the 1st quarter. NBC Securities Inc. now owns 2,225 shares of the exchange traded fund’s stock worth $53,000 after acquiring an additional 2,223 shares during the period.

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.