Black Point Wealth Management reduced its position in shares of Sprott Physical Gold Trust (NYSEARCA:PHYS – Free Report) by 69.4% in the second quarter, HoldingsChannel reports. The firm owned 28,299 shares of the exchange traded fund’s stock after selling 64,164 shares during the quarter. Sprott Physical Gold Trust makes up 20.5% of Black Point Wealth Management’s investment portfolio, making the stock its 2nd largest position. Black Point Wealth Management’s holdings in Sprott Physical Gold Trust were worth $717,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Cheviot Value Management LLC bought a new stake in shares of Sprott Physical Gold Trust during the 1st quarter valued at about $30,000. Assetmark Inc. bought a new stake in shares of Sprott Physical Gold Trust during the 1st quarter valued at about $31,000. Continuum Advisory LLC grew its stake in shares of Sprott Physical Gold Trust by 162.9% during the 1st quarter. Continuum Advisory LLC now owns 1,472 shares of the exchange traded fund’s stock valued at $35,000 after purchasing an additional 912 shares during the period. North Capital Inc. bought a new stake in shares of Sprott Physical Gold Trust during the 1st quarter valued at about $37,000. Finally, Center for Financial Planning Inc. bought a new stake in shares of Sprott Physical Gold Trust during the 1st quarter valued at about $39,000.
Sprott Physical Gold Trust Stock Performance
Sprott Physical Gold Trust stock opened at $28.81 on Friday. Sprott Physical Gold Trust has a 52-week low of $19.63 and a 52-week high of $29.11. The business has a 50-day simple moving average of $26.69 and a two-hundred day simple moving average of $25.55.
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.
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