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

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.31 and last traded at $26.20, with a volume of 8676450 shares traded. The stock had previously closed at $25.51.

Sprott Physical Gold Trust Stock Up 2.7 %

The company has a 50 day moving average price of $23.40 and a 200-day moving average price of $21.69.

Institutional Trading of Sprott Physical Gold Trust

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Sprott Physical Gold Trust during the fourth quarter worth about $44,631,000. Matauro LLC acquired a new position in shares of Sprott Physical Gold Trust in the 4th quarter worth approximately $40,017,000. IMC Chicago LLC raised its holdings in shares of Sprott Physical Gold Trust by 5,078.7% in the 4th quarter. IMC Chicago LLC now owns 2,025,763 shares of the exchange traded fund’s stock worth $40,799,000 after purchasing an additional 1,986,646 shares in the last quarter. Jane Street Group LLC lifted its stake in Sprott Physical Gold Trust by 601.5% during the fourth quarter. Jane Street Group LLC now owns 1,989,077 shares of the exchange traded fund’s stock valued at $40,060,000 after purchasing an additional 1,705,537 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Sprott Physical Gold Trust by 1,026.9% during the fourth quarter. Kestra Advisory Services LLC now owns 1,451,077 shares of the exchange traded fund’s stock worth $29,225,000 after buying an additional 1,322,305 shares in the last quarter.

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.