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

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price hit a new 52-week high on Thursday . The stock traded as high as $23.65 and last traded at $23.62, with a volume of 1992896 shares changing hands. The stock had previously closed at $23.31.

Sprott Physical Gold Trust Trading Up 0.9 %

The firm has a fifty day moving average price of $22.46 and a 200 day moving average price of $21.17.

Institutional Trading of Sprott Physical Gold Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AdvisorNet Financial Inc boosted its stake in Sprott Physical Gold Trust by 7,000.0% in the fourth quarter. AdvisorNet Financial Inc now owns 3,550 shares of the exchange traded fund’s stock worth $71,000 after purchasing an additional 3,500 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Sprott Physical Gold Trust by 74.1% in the third quarter. JPMorgan Chase & Co. now owns 395,289 shares of the exchange traded fund’s stock valued at $8,056,000 after acquiring an additional 168,288 shares during the period. Natixis Advisors LLC acquired a new stake in Sprott Physical Gold Trust in the 3rd quarter valued at approximately $219,000. Sigma Planning Corp lifted its position in shares of Sprott Physical Gold Trust by 1.2% in the fourth quarter. Sigma Planning Corp now owns 63,560 shares of the exchange traded fund’s stock worth $1,280,000 after purchasing an additional 770 shares in the last quarter. Finally, Smartleaf Asset Management LLC bought a new stake in Sprott Physical Gold Trust during the 4th quarter worth about $40,000.

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.