Sprott Physical Gold Trust (NYSEARCA:PHYS) Sets New 1-Year High – Here’s Why

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Friday . The company traded as high as $21.76 and last traded at $21.73, with a volume of 367685 shares. The stock had previously closed at $21.56.

Sprott Physical Gold Trust Trading Up 0.2 %

The stock’s 50-day moving average is $20.54 and its two-hundred day moving average is $20.13.

Institutional Trading of Sprott Physical Gold Trust

Several hedge funds have recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in Sprott Physical Gold Trust during the 3rd quarter valued at approximately $28,000. Sunbelt Securities Inc. bought a new stake in shares of Sprott Physical Gold Trust during the second quarter valued at approximately $51,000. St. Johns Investment Management Company LLC purchased a new position in shares of Sprott Physical Gold Trust in the third quarter worth $51,000. Missouri Trust & Investment Co boosted its position in shares of Sprott Physical Gold Trust by 160.9% during the third quarter. Missouri Trust & Investment Co now owns 2,609 shares of the exchange traded fund’s stock worth $53,000 after acquiring an additional 1,609 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new position in Sprott Physical Gold Trust during the third quarter valued at $54,000.

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.