Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 1-Year High – Here’s What Happened

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $33.31 and last traded at $33.4040, with a volume of 1397277 shares. The stock had previously closed at $33.20.

Sprott Physical Gold Trust Price Performance

The firm’s 50-day simple moving average is $31.47 and its 200 day simple moving average is $28.28.

Institutional Trading of Sprott Physical Gold Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in PHYS. Avantax Advisory Services Inc. grew its position in Sprott Physical Gold Trust by 32.3% in the second quarter. Avantax Advisory Services Inc. now owns 545,100 shares of the exchange traded fund’s stock worth $13,818,000 after acquiring an additional 132,995 shares in the last quarter. HB Wealth Management LLC bought a new stake in Sprott Physical Gold Trust in the second quarter worth $211,000. Beacon Pointe Advisors LLC raised its holdings in Sprott Physical Gold Trust by 7.8% during the second quarter. Beacon Pointe Advisors LLC now owns 597,781 shares of the exchange traded fund’s stock valued at $15,154,000 after buying an additional 43,296 shares in the last quarter. Allworth Financial LP raised its holdings in Sprott Physical Gold Trust by 45.8% during the second quarter. Allworth Financial LP now owns 22,359 shares of the exchange traded fund’s stock valued at $567,000 after buying an additional 7,026 shares in the last quarter. Finally, StoneX Group Inc. lifted its position in shares of Sprott Physical Gold Trust by 44.9% in the second quarter. StoneX Group Inc. now owns 62,201 shares of the exchange traded fund’s stock worth $1,577,000 after buying an additional 19,281 shares during the last quarter.

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.