Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Large Drop in Short Interest

Sprott Physical Gold Trust (NYSEARCA:PHYS) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 492,276 shares, a decrease of 43.8% from the August 31st total of 876,301 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 3,950,338 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Sprott Physical Gold Trust

Several institutional investors have recently made changes to their positions in PHYS. Scarborough Advisors LLC lifted its holdings in shares of Sprott Physical Gold Trust by 2,202.0% in the first quarter. Scarborough Advisors LLC now owns 1,151 shares of the exchange traded fund’s stock worth $41,000 after buying an additional 1,101 shares in the last quarter. Main Street Group LTD bought a new stake in shares of Sprott Physical Gold Trust in the first quarter worth about $54,000. Continuum Advisory LLC purchased a new stake in shares of Sprott Physical Gold Trust in the second quarter worth about $97,000. Purpose Unlimited Inc. bought a new position in Sprott Physical Gold Trust during the fourth quarter valued at approximately $109,000. Finally, Webster Bank N. A. boosted its stake in Sprott Physical Gold Trust by 547.0% during the first quarter. Webster Bank N. A. now owns 3,785 shares of the exchange traded fund’s stock valued at $134,000 after buying an additional 3,200 shares during the last quarter.

Sprott Physical Gold Trust Price Performance

Sprott Physical Gold Trust stock traded down $0.18 during trading on Wednesday, reaching $31.27. The company had a trading volume of 5,495,153 shares, compared to its average volume of 5,398,573. The firm’s 50-day simple moving average is $32.72 and its 200 day simple moving average is $33.38. Sprott Physical Gold Trust has a 52 week low of $29.30 and a 52 week high of $42.07.

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.