Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 1-Year High – Here’s What Happened

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high on Monday . The company traded as high as $29.24 and last traded at $29.25, with a volume of 193046 shares. The stock had previously closed at $28.81.

Sprott Physical Gold Trust Trading Up 1.8%

The stock has a fifty day moving average of $26.69 and a two-hundred day moving average of $25.56.

Hedge Funds Weigh In On Sprott Physical Gold Trust

Several large investors have recently added to or reduced their stakes in PHYS. Wealth Enhancement Advisory Services LLC grew its position in shares of Sprott Physical Gold Trust by 37.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 507,185 shares of the exchange traded fund’s stock worth $10,215,000 after acquiring an additional 138,653 shares in the last quarter. First Hawaiian Bank grew its stake in shares of Sprott Physical Gold Trust by 4.9% in the first quarter. First Hawaiian Bank now owns 23,896 shares of the exchange traded fund’s stock worth $575,000 after purchasing an additional 1,118 shares in the last quarter. NBC Securities Inc. grew its stake in shares of Sprott Physical Gold Trust by 111,150.0% in the first quarter. NBC Securities Inc. now owns 2,225 shares of the exchange traded fund’s stock worth $53,000 after purchasing an additional 2,223 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of Sprott Physical Gold Trust by 20.5% in the 1st quarter. Merit Financial Group LLC now owns 34,287 shares of the exchange traded fund’s stock worth $825,000 after buying an additional 5,831 shares in the last quarter. Finally, Apella Capital LLC bought a new stake in shares of Sprott Physical Gold Trust in the 1st quarter worth $2,283,000.

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.