Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 12-Month High – Should You Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $34.47 and last traded at $34.47, with a volume of 7805776 shares changing hands. The stock had previously closed at $33.89.

Sprott Physical Gold Trust Stock Performance

The firm’s 50 day moving average is $31.75 and its two-hundred day moving average is $28.61.

Institutional Trading of Sprott Physical Gold Trust

Several hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC grew its stake in Sprott Physical Gold Trust by 2,849.6% during the 2nd quarter. IMC Chicago LLC now owns 3,204,243 shares of the exchange traded fund’s stock worth $81,228,000 after buying an additional 3,095,611 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Sprott Physical Gold Trust by 18.3% during the first quarter. Royal Bank of Canada now owns 7,917,978 shares of the exchange traded fund’s stock valued at $190,507,000 after acquiring an additional 1,225,695 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of Sprott Physical Gold Trust by 39.8% during the third quarter. Jupiter Asset Management Ltd. now owns 3,145,855 shares of the exchange traded fund’s stock valued at $92,913,000 after acquiring an additional 896,347 shares during the period. Jane Street Group LLC grew its position in shares of Sprott Physical Gold Trust by 65.8% during the second quarter. Jane Street Group LLC now owns 1,618,276 shares of the exchange traded fund’s stock worth $41,023,000 after acquiring an additional 642,224 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Sprott Physical Gold Trust by 552.0% in the 3rd quarter. Cerity Partners LLC now owns 508,322 shares of the exchange traded fund’s stock worth $15,057,000 after acquiring an additional 430,358 shares during the period.

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.