Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 52-Week High – Time to Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $22.97 and last traded at $22.98, with a volume of 429579 shares trading hands. The stock had previously closed at $22.78.

Sprott Physical Gold Trust Stock Performance

The firm has a 50 day moving average price of $21.79 and a 200 day moving average price of $20.86.

Hedge Funds Weigh In On Sprott Physical Gold Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Straight Path Wealth Management lifted its holdings in shares of Sprott Physical Gold Trust by 1.5% during the third quarter. Straight Path Wealth Management now owns 34,950 shares of the exchange traded fund’s stock worth $712,000 after purchasing an additional 500 shares during the period. Wealth Alliance Advisory Group LLC grew its holdings in shares of Sprott Physical Gold Trust by 4.3% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 12,089 shares of the exchange traded fund’s stock worth $243,000 after buying an additional 500 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Sprott Physical Gold Trust by 1.2% during the 4th quarter. J.W. Cole Advisors Inc. now owns 42,131 shares of the exchange traded fund’s stock valued at $849,000 after acquiring an additional 519 shares during the last quarter. Islay Capital Management LLC boosted its position in shares of Sprott Physical Gold Trust by 1.4% during the 3rd quarter. Islay Capital Management LLC now owns 41,161 shares of the exchange traded fund’s stock valued at $839,000 after acquiring an additional 550 shares during the last quarter. Finally, Nwam LLC lifted its position in Sprott Physical Gold Trust by 0.9% in the fourth quarter. Nwam LLC now owns 62,364 shares of the exchange traded fund’s stock valued at $1,256,000 after buying an additional 557 shares during the last quarter.

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.