Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 1-Year High – Here’s Why

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Thursday . The company traded as high as $22.74 and last traded at $22.69, with a volume of 981748 shares changing hands. The stock had previously closed at $22.69.

Sprott Physical Gold Trust Price Performance

The business has a 50-day simple moving average of $21.15 and a 200 day simple moving average of $20.54.

Institutional Trading of Sprott Physical Gold Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Sprott Physical Gold Trust during the third quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in Sprott Physical Gold Trust during the 4th quarter worth $39,000. Smartleaf Asset Management LLC acquired a new position in Sprott Physical Gold Trust during the 4th quarter valued at about $40,000. Smithfield Trust Co purchased a new stake in Sprott Physical Gold Trust in the fourth quarter valued at about $50,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in shares of Sprott Physical Gold Trust during the fourth quarter worth about $50,000.

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.