Cibc World Market Inc. Has $19.20 Million Position in Sprott Physical Gold Trust $PHYS

Cibc World Market Inc. raised its stake in Sprott Physical Gold Trust (NYSEARCA:PHYS) by 8.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 648,205 shares of the exchange traded fund’s stock after purchasing an additional 48,090 shares during the quarter. Cibc World Market Inc.’s holdings in Sprott Physical Gold Trust were worth $19,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new position in shares of Sprott Physical Gold Trust during the 2nd quarter valued at $25,000. Tradewinds Capital Management LLC raised its holdings in shares of Sprott Physical Gold Trust by 59.8% during the second quarter. Tradewinds Capital Management LLC now owns 1,088 shares of the exchange traded fund’s stock worth $28,000 after acquiring an additional 407 shares in the last quarter. MTM Investment Management LLC acquired a new stake in Sprott Physical Gold Trust during the second quarter valued at $30,000. Legacy Investment Solutions LLC purchased a new position in Sprott Physical Gold Trust in the second quarter valued at about $36,000. Finally, Intelligent Financial Strategies purchased a new position in Sprott Physical Gold Trust in the second quarter valued at about $38,000.

Sprott Physical Gold Trust Stock Down 3.6%

PHYS opened at $37.04 on Friday. Sprott Physical Gold Trust has a fifty-two week low of $21.96 and a fifty-two week high of $42.07. The business has a 50-day moving average of $35.15 and a 200-day moving average of $31.13.

Sprott Physical Gold Trust 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.