Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 12-Month High – Should You Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $22.74 and last traded at $22.69, with a volume of 981748 shares changing hands. The stock had previously closed at $22.69.

Sprott Physical Gold Trust Stock Performance

The business’s 50 day simple moving average is $21.07 and its 200-day simple moving average is $20.49.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AdvisorNet Financial Inc grew its position in Sprott Physical Gold Trust by 7,000.0% in the 4th quarter. AdvisorNet Financial Inc now owns 3,550 shares of the exchange traded fund’s stock valued at $71,000 after buying an additional 3,500 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Sprott Physical Gold Trust by 74.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 395,289 shares of the exchange traded fund’s stock worth $8,056,000 after acquiring an additional 168,288 shares during the period. Raymond James & Associates boosted its holdings in shares of Sprott Physical Gold Trust by 73.3% in the third quarter. Raymond James & Associates now owns 1,602,282 shares of the exchange traded fund’s stock valued at $32,655,000 after acquiring an additional 677,623 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Sprott Physical Gold Trust by 2,471.9% during the third quarter. International Assets Investment Management LLC now owns 2,859,518 shares of the exchange traded fund’s stock valued at $58,277,000 after acquiring an additional 2,748,335 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in Sprott Physical Gold Trust during the third quarter worth approximately $204,000.

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.