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

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high during trading on Thursday . The stock traded as high as $24.35 and last traded at $24.31, with a volume of 4829860 shares. The stock had previously closed at $23.67.

Sprott Physical Gold Trust Trading Up 2.7 %

The company’s fifty day simple moving average is $22.92 and its 200-day simple moving average is $21.42.

Institutional Trading of Sprott Physical Gold Trust

Hedge funds have recently modified their holdings of the company. Veracity Capital LLC boosted its holdings in shares of Sprott Physical Gold Trust by 2.2% in the 1st quarter. Veracity Capital LLC now owns 19,380 shares of the exchange traded fund’s stock valued at $466,000 after acquiring an additional 419 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in Sprott Physical Gold Trust by 4.3% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 12,089 shares of the exchange traded fund’s stock worth $243,000 after purchasing an additional 500 shares during the period. J.W. Cole Advisors Inc. lifted its position in shares of Sprott Physical Gold Trust by 1.2% during the 4th quarter. J.W. Cole Advisors Inc. now owns 42,131 shares of the exchange traded fund’s stock valued at $849,000 after buying an additional 519 shares in the last quarter. Nwam LLC lifted its holdings in Sprott Physical Gold Trust by 0.9% during the fourth quarter. Nwam LLC now owns 62,364 shares of the exchange traded fund’s stock valued at $1,256,000 after purchasing an additional 557 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC boosted its holdings in Sprott Physical Gold Trust by 0.6% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 94,738 shares of the exchange traded fund’s stock worth $1,908,000 after buying an additional 600 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.