NewEdge Advisors LLC Trims Stock Holdings in Sprott Physical Gold Trust $PHYS

NewEdge Advisors LLC lowered its stake in shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) by 25.5% during the first quarter, Holdings Channel reports. The fund owned 68,537 shares of the exchange traded fund’s stock after selling 23,431 shares during the quarter. NewEdge Advisors LLC’s holdings in Sprott Physical Gold Trust were worth $2,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHYS. BCS Wealth Management raised its position in shares of Sprott Physical Gold Trust by 99.1% in the fourth quarter. BCS Wealth Management now owns 55,738 shares of the exchange traded fund’s stock valued at $1,840,000 after buying an additional 27,744 shares during the last quarter. BIP Wealth LLC boosted its position in Sprott Physical Gold Trust by 335.2% during the fourth quarter. BIP Wealth LLC now owns 491,350 shares of the exchange traded fund’s stock worth $16,224,000 after acquiring an additional 378,445 shares during the last quarter. Brookwood Investment Group LLC boosted its position in Sprott Physical Gold Trust by 47.4% during the fourth quarter. Brookwood Investment Group LLC now owns 59,805 shares of the exchange traded fund’s stock worth $1,975,000 after acquiring an additional 19,237 shares during the last quarter. Spirepoint Private Client LLC grew its stake in Sprott Physical Gold Trust by 20.9% in the 4th quarter. Spirepoint Private Client LLC now owns 86,865 shares of the exchange traded fund’s stock worth $2,868,000 after acquiring an additional 15,040 shares during the period. Finally, KOM Wealth Management Group LLC grew its stake in Sprott Physical Gold Trust by 15.2% in the 4th quarter. KOM Wealth Management Group LLC now owns 120,896 shares of the exchange traded fund’s stock worth $3,992,000 after acquiring an additional 15,930 shares during the period.

Sprott Physical Gold Trust Trading Down 1.6%

Shares of PHYS opened at $30.59 on Friday. The stock has a fifty day moving average of $31.56 and a two-hundred day moving average of $34.82. Sprott Physical Gold Trust has a fifty-two week low of $25.15 and a fifty-two week high of $42.07.

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