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

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $22.49 and last traded at $22.42, with a volume of 3600757 shares. The stock had previously closed at $22.45.

Sprott Physical Gold Trust Price Performance

The stock has a 50-day simple moving average of $20.91 and a 200-day simple moving average of $20.38.

Institutional Trading of Sprott Physical Gold Trust

Several institutional investors have recently added to or reduced their stakes in PHYS. Farringdon Capital Ltd. acquired a new position in Sprott Physical Gold Trust in the fourth quarter worth about $3,252,000. NewEdge Advisors LLC grew its position in shares of Sprott Physical Gold Trust by 84.8% in the 4th quarter. NewEdge Advisors LLC now owns 65,760 shares of the exchange traded fund’s stock worth $1,324,000 after acquiring an additional 30,174 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in shares of Sprott Physical Gold Trust by 152.5% in the 4th quarter. Insigneo Advisory Services LLC now owns 86,850 shares of the exchange traded fund’s stock valued at $1,749,000 after acquiring an additional 52,458 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Sprott Physical Gold Trust in the 4th quarter valued at approximately $1,155,000. Finally, LaSalle St. Investment Advisors LLC acquired a new stake in shares of Sprott Physical Gold Trust during the 4th quarter valued at approximately $423,000.

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.