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

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) saw an uptick in trading volume on Monday . 2,239,167 shares changed hands during trading, a decline of 14% from the previous session’s volume of 2,606,233 shares.The stock last traded at $24.10 and had previously closed at $23.82.

Sprott Physical Gold Trust Price Performance

The firm has a fifty day moving average of $22.59 and a 200-day moving average of $21.25.

Institutional Trading of Sprott Physical Gold Trust

Several institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in Sprott Physical Gold Trust by 37.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 507,185 shares of the exchange traded fund’s stock worth $10,215,000 after acquiring an additional 138,653 shares in the last quarter. SpringVest Wealth Management LLC purchased a new stake in shares of Sprott Physical Gold Trust during the fourth quarter valued at $390,000. TFR Capital LLC. purchased a new position in Sprott Physical Gold Trust in the 4th quarter worth about $315,000. Challenger Wealth Management purchased a new stake in Sprott Physical Gold Trust during the fourth quarter valued at about $334,000. Finally, Sunbelt Securities Inc. increased its position in shares of Sprott Physical Gold Trust by 98.7% in the fourth quarter. Sunbelt Securities Inc. now owns 5,960 shares of the exchange traded fund’s stock worth $119,000 after acquiring an additional 2,960 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.