Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 12-Month High – Here’s What Happened

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high during trading on Monday . The stock traded as high as $38.81 and last traded at $38.7550, with a volume of 2811092 shares trading hands. The stock had previously closed at $38.07.

Sprott Physical Gold Trust Stock Up 1.5%

The stock’s fifty day simple moving average is $33.40 and its 200-day simple moving average is $30.01.

Hedge Funds Weigh In On Sprott Physical Gold Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV grew its holdings in shares of Sprott Physical Gold Trust by 44.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 18,170 shares of the exchange traded fund’s stock worth $600,000 after purchasing an additional 5,551 shares in the last quarter. Invariant Investment Management bought a new stake in Sprott Physical Gold Trust during the fourth quarter worth about $546,000. BCS Wealth Management grew its stake in Sprott Physical Gold Trust by 99.1% during the fourth quarter. BCS Wealth Management now owns 55,738 shares of the exchange traded fund’s stock worth $1,840,000 after buying an additional 27,744 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Sprott Physical Gold Trust by 0.5% in the 4th quarter. Farther Finance Advisors LLC now owns 382,269 shares of the exchange traded fund’s stock valued at $12,623,000 after buying an additional 1,994 shares during the period. Finally, Transcend Capital Advisors LLC increased its holdings in Sprott Physical Gold Trust by 5.7% in the 4th quarter. Transcend Capital Advisors LLC now owns 367,978 shares of the exchange traded fund’s stock valued at $12,151,000 after buying an additional 19,949 shares during the period.

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.