Sprott Physical Gold Trust (NYSEARCA:PHYS) Sets New 12-Month High – Here’s What Happened

Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $34.47 and last traded at $34.47, with a volume of 7805776 shares. The stock had previously closed at $33.89.

Sprott Physical Gold Trust Stock Up 1.7%

The business has a 50 day moving average of $31.68 and a two-hundred day moving average of $28.53.

Institutional Trading of Sprott Physical Gold Trust

Hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. boosted its holdings in shares of Sprott Physical Gold Trust by 66.7% during the 2nd quarter. Ameriflex Group Inc. now owns 1,000 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 400 shares during the period. Manchester Capital Management LLC acquired a new stake in Sprott Physical Gold Trust during the second quarter worth approximately $25,000. Tradewinds Capital Management LLC lifted its position in Sprott Physical Gold Trust by 59.8% during the second quarter. Tradewinds Capital Management LLC now owns 1,088 shares of the exchange traded fund’s stock worth $28,000 after acquiring an additional 407 shares during the last quarter. MTM Investment Management LLC bought a new stake in shares of Sprott Physical Gold Trust during the second quarter worth approximately $30,000. Finally, Hilltop National Bank bought a new stake in shares of Sprott Physical Gold Trust during the second quarter worth approximately $32,000.

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. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.