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

Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $33.31 and last traded at $33.4040, with a volume of 1397277 shares. The stock had previously closed at $33.20.

Sprott Physical Gold Trust Price Performance

The business has a fifty day moving average of $31.47 and a 200-day moving average of $28.28.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Financial LLC increased its stake in Sprott Physical Gold Trust by 25.8% during the 1st quarter. Summit Financial LLC now owns 43,659 shares of the exchange traded fund’s stock valued at $1,050,000 after buying an additional 8,944 shares during the period. Capital Wealth Alliance LLC increased its stake in shares of Sprott Physical Gold Trust by 1.3% during the first quarter. Capital Wealth Alliance LLC now owns 972,330 shares of the exchange traded fund’s stock valued at $23,390,000 after acquiring an additional 12,937 shares during the period. Oliver Luxxe Assets LLC increased its stake in shares of Sprott Physical Gold Trust by 10.2% during the first quarter. Oliver Luxxe Assets LLC now owns 11,000 shares of the exchange traded fund’s stock valued at $265,000 after acquiring an additional 1,015 shares during the period. Walleye Capital LLC bought a new stake in Sprott Physical Gold Trust during the first quarter worth approximately $683,000. Finally, CreativeOne Wealth LLC lifted its position in Sprott Physical Gold Trust by 3.6% in the first quarter. CreativeOne Wealth LLC now owns 69,704 shares of the exchange traded fund’s stock worth $1,677,000 after purchasing an additional 2,408 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.