Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Strong Trading Volume – Still a Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS) shares saw an uptick in trading volume on Tuesday . 1,708,786 shares changed hands during trading, a decline of 58% from the previous session’s volume of 4,071,110 shares.The stock last traded at $34.0420 and had previously closed at $33.89.

Sprott Physical Gold Trust Stock Down 0.6%

The company’s fifty day simple moving average is $31.72 and its 200-day simple moving average is $28.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHYS. Keel Point LLC grew its stake in shares of Sprott Physical Gold Trust by 1.2% in the 3rd quarter. Keel Point LLC now owns 40,587 shares of the exchange traded fund’s stock valued at $1,202,000 after purchasing an additional 497 shares during the period. IFP Advisors Inc boosted its stake in Sprott Physical Gold Trust by 27.7% in the 3rd quarter. IFP Advisors Inc now owns 31,347 shares of the exchange traded fund’s stock valued at $929,000 after buying an additional 6,795 shares in the last quarter. Stillwater Wealth Management Group bought a new stake in Sprott Physical Gold Trust in the third quarter valued at $344,000. Strategic Advocates LLC acquired a new position in Sprott Physical Gold Trust during the third quarter worth $51,000. Finally, Greenfield Seitz Capital Management LLC raised its stake in Sprott Physical Gold Trust by 3.3% during the third quarter. Greenfield Seitz Capital Management LLC now owns 159,840 shares of the exchange traded fund’s stock worth $4,734,000 after acquiring an additional 5,080 shares in the last quarter.

About Sprott Physical Gold Trust

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.