Sprott Physical Gold Trust (NYSEARCA:PHYS) is Black Point Wealth Management’s 3rd Largest Position

Black Point Wealth Management cut its holdings in Sprott Physical Gold Trust (NYSEARCA:PHYS) by 0.4% during the third quarter, Holdings Channel reports. The institutional investor owned 323,524 shares of the exchange traded fund’s stock after selling 1,375 shares during the quarter. Sprott Physical Gold Trust makes up approximately 7.6% of Black Point Wealth Management’s investment portfolio, making the stock its 3rd biggest position. Black Point Wealth Management’s holdings in Sprott Physical Gold Trust were worth $6,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its stake in Sprott Physical Gold Trust by 29.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,271,370 shares of the exchange traded fund’s stock valued at $41,021,000 after buying an additional 518,649 shares during the last quarter. Bluefin Capital Management LLC raised its position in shares of Sprott Physical Gold Trust by 478.6% in the 1st quarter. Bluefin Capital Management LLC now owns 2,023,920 shares of the exchange traded fund’s stock worth $35,014,000 after purchasing an additional 1,674,108 shares during the last quarter. Captrust Financial Advisors boosted its stake in Sprott Physical Gold Trust by 4.1% in the 1st quarter. Captrust Financial Advisors now owns 1,823,029 shares of the exchange traded fund’s stock worth $31,538,000 after purchasing an additional 71,602 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Sprott Physical Gold Trust by 16.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 1,777,810 shares of the exchange traded fund’s stock valued at $32,107,000 after purchasing an additional 247,138 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Sprott Physical Gold Trust by 28.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,615,548 shares of the exchange traded fund’s stock valued at $29,177,000 after purchasing an additional 361,514 shares in the last quarter.

Sprott Physical Gold Trust Stock Up 1.0 %

Sprott Physical Gold Trust stock traded up $0.21 during trading hours on Friday, hitting $21.13. The stock had a trading volume of 2,254,779 shares, compared to its average volume of 2,027,800. The stock’s 50-day moving average price is $19.99 and its 200-day moving average price is $18.89. Sprott Physical Gold Trust has a 12-month low of $15.09 and a 12-month high of $21.15.

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.