Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Large Drop in Short Interest

Sprott Physical Gold Trust (NYSEARCA:PHYS) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 492,276 shares, a decline of 43.8% from the August 31st total of 876,301 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 3,950,338 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in shares of Sprott Physical Gold Trust by 1.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,865 shares of the exchange traded fund’s stock worth $871,000 after purchasing an additional 319 shares during the period. Tidal Investments LLC lifted its stake in Sprott Physical Gold Trust by 70.5% in the second quarter. Tidal Investments LLC now owns 774,770 shares of the exchange traded fund’s stock worth $23,375,000 after purchasing an additional 320,296 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Sprott Physical Gold Trust by 1.5% during the second quarter. Integrated Wealth Concepts LLC now owns 647,375 shares of the exchange traded fund’s stock valued at $19,531,000 after buying an additional 9,833 shares during the period. Cypress Capital Management LLC WY boosted its position in shares of Sprott Physical Gold Trust by 9.9% during the second quarter. Cypress Capital Management LLC WY now owns 96,239 shares of the exchange traded fund’s stock valued at $2,904,000 after buying an additional 8,684 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Sprott Physical Gold Trust by 42.4% during the second quarter. IFP Advisors Inc now owns 45,615 shares of the exchange traded fund’s stock valued at $1,376,000 after buying an additional 13,579 shares during the last quarter.

Sprott Physical Gold Trust Stock Performance

Shares of NYSEARCA PHYS traded down $0.18 during trading hours on Wednesday, hitting $31.27. 5,495,153 shares of the company traded hands, compared to its average volume of 5,398,573. The company’s 50 day moving average price is $32.72 and its 200 day moving average price is $33.38. Sprott Physical Gold Trust has a 12 month low of $29.30 and a 12 month high of $42.07.

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