Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 12-Month Low – What’s Next?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s stock price reached a new 52-week low during mid-day trading on Friday. The company traded as low as $29.53 and last traded at $29.52, with a volume of 1,448,699 shares changing hands. The stock had previously closed at $30.41.

Sprott Physical Gold Trust Stock Performance

The company’s 50-day moving average price is $32.29 and its two-hundred day moving average price is $34.07.

Institutional Trading of Sprott Physical Gold Trust

Institutional investors have recently modified their holdings of the company. Evanson Financial LLC acquired a new stake in Sprott Physical Gold Trust in the 2nd quarter valued at about $108,576,000. IMC Chicago LLC raised its stake in Sprott Physical Gold Trust by 494.3% in the 1st quarter. IMC Chicago LLC now owns 2,449,218 shares of the exchange traded fund’s stock valued at $86,800,000 after acquiring an additional 2,037,133 shares during the period. Cetera Investment Advisers lifted its holdings in Sprott Physical Gold Trust by 5.6% during the 1st quarter. Cetera Investment Advisers now owns 1,726,789 shares of the exchange traded fund’s stock valued at $61,197,000 after purchasing an additional 91,695 shares during the last quarter. Kestra Advisory Services LLC boosted its position in Sprott Physical Gold Trust by 39.7% during the first quarter. Kestra Advisory Services LLC now owns 1,347,193 shares of the exchange traded fund’s stock worth $47,745,000 after purchasing an additional 382,603 shares during the period. Finally, WIT Partners Advisory Pte. Ltd. raised its position in shares of Sprott Physical Gold Trust by 48.9% in the second quarter. WIT Partners Advisory Pte. Ltd. now owns 1,401,170 shares of the exchange traded fund’s stock valued at $42,273,000 after purchasing an additional 459,950 shares during the period.

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