Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 52-Week High – Time to Buy?

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $23.52 and last traded at $23.49, with a volume of 4368336 shares traded. The stock had previously closed at $23.25.

Sprott Physical Gold Trust Price Performance

The stock’s fifty day moving average is $22.14 and its two-hundred day moving average is $21.01.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PHYS. Royal Bank of Canada grew its position in Sprott Physical Gold Trust by 0.6% in the 4th quarter. Royal Bank of Canada now owns 6,692,283 shares of the exchange traded fund’s stock worth $134,782,000 after purchasing an additional 37,144 shares in the last quarter. Pekin Hardy Strauss Inc. grew its holdings in shares of Sprott Physical Gold Trust by 3.6% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 4,196,788 shares of the exchange traded fund’s stock valued at $84,523,000 after acquiring an additional 144,824 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Sprott Physical Gold Trust by 7.5% during the fourth quarter. Captrust Financial Advisors now owns 2,447,510 shares of the exchange traded fund’s stock worth $49,293,000 after acquiring an additional 170,025 shares during the period. Raymond James Financial Inc. bought a new stake in Sprott Physical Gold Trust during the fourth quarter worth $44,631,000. Finally, Sprott Inc. boosted its position in Sprott Physical Gold Trust by 14.9% in the fourth quarter. Sprott Inc. now owns 2,087,486 shares of the exchange traded fund’s stock worth $42,043,000 after purchasing an additional 270,064 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.