Sprott Physical Gold Trust (NYSEARCA:PHYS) Sets New 52-Week High – What’s Next?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $22.74 and last traded at $22.69, with a volume of 981748 shares. The stock had previously closed at $22.69.

Sprott Physical Gold Trust Price Performance

The stock has a fifty day simple moving average of $21.07 and a two-hundred day simple moving average of $20.49.

Hedge Funds Weigh In On Sprott Physical Gold Trust

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in Sprott Physical Gold Trust by 0.6% during the fourth quarter. Royal Bank of Canada now owns 6,692,283 shares of the exchange traded fund’s stock worth $134,782,000 after acquiring an additional 37,144 shares during the period. Pekin Hardy Strauss Inc. grew its holdings in shares of Sprott Physical Gold Trust by 3.6% during 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 purchasing an additional 144,824 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Sprott Physical Gold Trust by 2,471.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,859,518 shares of the exchange traded fund’s stock worth $58,277,000 after purchasing an additional 2,748,335 shares during the period. Captrust Financial Advisors boosted its position in Sprott Physical Gold Trust by 7.5% during the 4th quarter. Captrust Financial Advisors now owns 2,447,510 shares of the exchange traded fund’s stock valued at $49,293,000 after purchasing an additional 170,025 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Sprott Physical Gold Trust during the 4th quarter worth $44,631,000.

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.