Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 52-Week High – Here’s Why

Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $20.84 and last traded at $20.84, with a volume of 28479 shares traded. The stock had previously closed at $20.68.

Sprott Physical Gold Trust Stock Performance

The stock’s 50-day moving average price is $19.94 and its 200-day moving average price is $18.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PHYS. Banque Cantonale Vaudoise purchased a new stake in shares of Sprott Physical Gold Trust in the second quarter valued at $36,000. Sunbelt Securities Inc. purchased a new position in Sprott Physical Gold Trust in the 2nd quarter valued at about $51,000. 1620 Investment Advisors Inc. purchased a new position in Sprott Physical Gold Trust in the 2nd quarter valued at about $55,000. Evermay Wealth Management LLC boosted its stake in shares of Sprott Physical Gold Trust by 567.7% during the 1st quarter. Evermay Wealth Management LLC now owns 3,906 shares of the exchange traded fund’s stock worth $68,000 after purchasing an additional 3,321 shares during the last quarter. Finally, St. Johns Investment Management Company LLC purchased a new stake in shares of Sprott Physical Gold Trust during the first quarter worth about $104,000.

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.