Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 1-Year High – Should You Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $28.36 and last traded at $28.31, with a volume of 3212715 shares changing hands. The stock had previously closed at $28.04.

Sprott Physical Gold Trust Price Performance

The stock has a 50-day moving average price of $26.15 and a 200 day moving average price of $25.19.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PHYS. Royal Bank of Canada grew its position in shares of Sprott Physical Gold Trust by 0.6% in the fourth quarter. Royal Bank of Canada now owns 6,692,283 shares of the exchange traded fund’s stock valued at $134,782,000 after purchasing an additional 37,144 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Sprott Physical Gold Trust in the fourth quarter valued at $514,000. Vident Advisory LLC grew its position in shares of Sprott Physical Gold Trust by 3.9% in the fourth quarter. Vident Advisory LLC now owns 292,469 shares of the exchange traded fund’s stock valued at $5,890,000 after purchasing an additional 10,934 shares during the period. Willis Johnson & Associates Inc. purchased a new stake in shares of Sprott Physical Gold Trust in the fourth quarter valued at $219,000. Finally, Waverly Advisors LLC grew its position in shares of Sprott Physical Gold Trust by 52.2% in the fourth quarter. Waverly Advisors LLC now owns 46,855 shares of the exchange traded fund’s stock valued at $944,000 after purchasing an additional 16,076 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.