Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Significant Increase in Short Interest

Sprott Physical Gold Trust (NYSEARCA:PHYS) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,516,233 shares, an increase of 76.1% from the February 12th total of 861,198 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily volume of 4,572,105 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 4,572,105 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the company’s shares are sold short.

Sprott Physical Gold Trust Stock Performance

NYSEARCA:PHYS traded down $0.54 during midday trading on Friday, hitting $38.09. 4,916,602 shares of the company traded hands, compared to its average volume of 8,778,572. The firm’s fifty day moving average is $37.55 and its 200-day moving average is $33.06. Sprott Physical Gold Trust has a 12-month low of $22.72 and a 12-month high of $42.07.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Several institutional investors have recently made changes to their positions in the company. World Investment Advisors lifted its holdings in shares of Sprott Physical Gold Trust by 8.1% in the 4th quarter. World Investment Advisors now owns 207,688 shares of the exchange traded fund’s stock worth $6,858,000 after acquiring an additional 15,630 shares during the last quarter. Nalls Sherbakoff Group LLC bought a new position in Sprott Physical Gold Trust during the 4th quarter valued at about $173,000. Corient Private Wealth LLC raised its position in Sprott Physical Gold Trust by 18.4% in the 4th quarter. Corient Private Wealth LLC now owns 198,648 shares of the exchange traded fund’s stock worth $6,559,000 after purchasing an additional 30,906 shares during the period. Sankala Group LLC purchased a new stake in Sprott Physical Gold Trust in the 4th quarter worth about $619,000. Finally, Alternative Investment Advisors LLC. bought a new stake in Sprott Physical Gold Trust in the fourth quarter worth about $200,000.

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. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.