Sprott Physical Gold Trust (NYSEARCA:PHYS) Sets New 52-Week High – Still a Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.52 and last traded at $23.49, with a volume of 4368336 shares changing hands. The stock had previously closed at $23.25.

Sprott Physical Gold Trust Stock Up 1.0 %

The stock has a 50-day moving average of $22.01 and a 200 day moving average of $20.97.

Institutional Trading of Sprott Physical Gold Trust

A number of institutional investors have recently bought and sold shares of PHYS. Royal Bank of Canada boosted its stake in Sprott Physical Gold Trust by 0.6% during the 4th 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 last quarter. Pekin Hardy Strauss Inc. increased its position in shares of Sprott Physical Gold Trust by 3.6% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 4,196,788 shares of the exchange traded fund’s stock valued at $84,523,000 after buying an additional 144,824 shares in the last quarter. Captrust Financial Advisors raised its stake 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 worth $49,293,000 after buying an additional 170,025 shares during the period. Raymond James Financial Inc. bought a new position in Sprott Physical Gold Trust during the fourth quarter worth about $44,631,000. Finally, Sprott Inc. lifted its stake in Sprott Physical Gold Trust by 14.9% in the fourth quarter. Sprott Inc. now owns 2,087,486 shares of the exchange traded fund’s stock valued at $42,043,000 after buying an additional 270,064 shares in 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.