Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 52-Week High – Here’s What Happened

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $36.32 and last traded at $36.2750, with a volume of 1604306 shares changing hands. The stock had previously closed at $35.03.

Sprott Physical Gold Trust Stock Performance

The business has a 50-day moving average price of $32.95 and a two-hundred day moving average price of $29.67.

Hedge Funds Weigh In On Sprott Physical Gold Trust

A number of institutional investors and hedge funds have recently made changes to their positions in PHYS. Ameriflex Group Inc. increased its stake in shares of Sprott Physical Gold Trust by 66.7% during the second 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 purchased a new stake in shares of Sprott Physical Gold Trust in the 2nd quarter valued at approximately $25,000. Tradewinds Capital Management LLC raised its holdings in shares of Sprott Physical Gold Trust by 59.8% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,088 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 407 shares in the last quarter. MTM Investment Management LLC purchased a new stake in shares of Sprott Physical Gold Trust during the 2nd quarter worth $30,000. Finally, Hilltop National Bank acquired a new position in shares of Sprott Physical Gold Trust during the second quarter worth $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.