Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Significant Increase in Short Interest

Sprott Physical Gold Trust (NYSEARCA:PHYS) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,516,233 shares, an increase of 76.1% from the February 12th total of 861,198 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 4,572,105 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 4,572,105 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the company’s stock are short sold.

Hedge Funds Weigh In On Sprott Physical Gold Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of Sprott Physical Gold Trust by 8.2% in the 4th quarter. Royal Bank of Canada now owns 9,516,053 shares of the exchange traded fund’s stock worth $314,220,000 after buying an additional 724,321 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in Sprott Physical Gold Trust by 2.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 5,589,846 shares of the exchange traded fund’s stock valued at $184,642,000 after buying an additional 125,087 shares in the last quarter. Heritage Wealth Advisors purchased a new position in Sprott Physical Gold Trust during the fourth quarter valued at $169,676,000. CENTRAL TRUST Co raised its stake in Sprott Physical Gold Trust by 9.1% during the third quarter. CENTRAL TRUST Co now owns 4,649,181 shares of the exchange traded fund’s stock valued at $137,709,000 after buying an additional 388,033 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its holdings in Sprott Physical Gold Trust by 1.3% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 4,318,119 shares of the exchange traded fund’s stock worth $142,584,000 after acquiring an additional 56,549 shares in the last quarter.

Sprott Physical Gold Trust Stock Performance

Shares of PHYS stock opened at $38.09 on Friday. The company’s fifty day moving average price is $37.55 and its 200-day moving average price is $33.11. Sprott Physical Gold Trust has a 12 month low of $22.72 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.