Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 1-Year High – Still a Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $22.49 and last traded at $22.42, with a volume of 3600757 shares changing hands. The stock had previously closed at $22.45.

Sprott Physical Gold Trust Stock Performance

The firm’s 50 day moving average is $20.91 and its two-hundred day moving average is $20.38.

Institutional Trading of Sprott Physical Gold Trust

A number of institutional investors and hedge funds have recently made changes to their positions in PHYS. Legacy Investment Solutions LLC acquired a new stake in shares of Sprott Physical Gold Trust in the 3rd quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in Sprott Physical Gold Trust during the 4th quarter valued at about $39,000. Smartleaf Asset Management LLC bought a new position in Sprott Physical Gold Trust in the 4th quarter worth about $40,000. St. Johns Investment Management Company LLC acquired a new stake in shares of Sprott Physical Gold Trust in the third quarter valued at approximately $51,000. Finally, Smithfield Trust Co bought a new stake in shares of Sprott Physical Gold Trust during the fourth quarter valued at approximately $50,000.

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.