Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 1-Year High – What’s Next?

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $23.52 and last traded at $23.49, with a volume of 4368336 shares traded. The stock had previously closed at $23.25.

Sprott Physical Gold Trust Price Performance

The stock’s 50 day simple moving average is $22.14 and its two-hundred day simple moving average is $21.01.

Hedge Funds Weigh In On Sprott Physical Gold Trust

Several institutional investors have recently bought and sold shares of PHYS. Raymond James Financial Inc. bought a new stake in Sprott Physical Gold Trust in the 4th quarter valued at about $44,631,000. Matauro LLC purchased a new position in shares of Sprott Physical Gold Trust in the fourth quarter worth about $40,017,000. IMC Chicago LLC raised its position in shares of Sprott Physical Gold Trust by 5,078.7% in the fourth quarter. IMC Chicago LLC now owns 2,025,763 shares of the exchange traded fund’s stock valued at $40,799,000 after purchasing an additional 1,986,646 shares during the period. Jane Street Group LLC lifted its stake in shares of Sprott Physical Gold Trust by 601.5% during the 4th quarter. Jane Street Group LLC now owns 1,989,077 shares of the exchange traded fund’s stock valued at $40,060,000 after buying an additional 1,705,537 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Sprott Physical Gold Trust by 1,026.9% in the 4th quarter. Kestra Advisory Services LLC now owns 1,451,077 shares of the exchange traded fund’s stock worth $29,225,000 after buying an additional 1,322,305 shares during the period.

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.