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

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $21.33 and last traded at $21.32, with a volume of 756595 shares. The stock had previously closed at $21.14.

Sprott Physical Gold Trust Stock Performance

The stock has a 50 day simple moving average of $20.11 and a 200 day simple moving average of $18.96.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PHYS. International Assets Investment Management LLC increased its stake in Sprott Physical Gold Trust by 2,471.9% in the third quarter. International Assets Investment Management LLC now owns 2,859,518 shares of the exchange traded fund’s stock valued at $58,277,000 after acquiring an additional 2,748,335 shares during the last quarter. Bluefin Capital Management LLC raised its holdings in shares of Sprott Physical Gold Trust by 478.6% during the 1st quarter. Bluefin Capital Management LLC now owns 2,023,920 shares of the exchange traded fund’s stock worth $35,014,000 after buying an additional 1,674,108 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Sprott Physical Gold Trust by 791.8% during the 1st quarter. Cetera Investment Advisers now owns 1,091,188 shares of the exchange traded fund’s stock worth $18,878,000 after buying an additional 968,835 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Sprott Physical Gold Trust by 73.3% during the 3rd quarter. Raymond James & Associates now owns 1,602,282 shares of the exchange traded fund’s stock worth $32,655,000 after buying an additional 677,623 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Sprott Physical Gold Trust during the 2nd quarter worth $9,884,000.

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.