Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Strong Trading Volume – Here’s Why

Sprott Physical Gold Trust (NYSEARCA:PHYS) saw strong trading volume on Wednesday . 11,037,927 shares traded hands during mid-day trading, an increase of 297% from the previous session’s volume of 2,782,498 shares.The stock last traded at $23.55 and had previously closed at $23.03.

Sprott Physical Gold Trust Stock Up 2.5 %

The company has a fifty day moving average price of $22.84 and a two-hundred day moving average price of $21.39.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of institutional investors and hedge funds have recently made changes to their positions in PHYS. Raymond James Financial Inc. acquired a new stake in shares of Sprott Physical Gold Trust during the fourth quarter worth $44,631,000. Matauro LLC purchased a new stake in shares of Sprott Physical Gold Trust in the fourth quarter valued at about $40,017,000. IMC Chicago LLC increased 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 acquiring an additional 1,986,646 shares during the period. Jane Street Group LLC raised its holdings in Sprott Physical Gold Trust by 601.5% during the fourth quarter. Jane Street Group LLC now owns 1,989,077 shares of the exchange traded fund’s stock worth $40,060,000 after purchasing an additional 1,705,537 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its position in Sprott Physical Gold Trust by 1,026.9% in the fourth quarter. Kestra Advisory Services LLC now owns 1,451,077 shares of the exchange traded fund’s stock valued at $29,225,000 after purchasing an additional 1,322,305 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.