Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 12-Month High – What’s Next?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.76 and last traded at $21.73, with a volume of 367685 shares changing hands. The stock had previously closed at $21.56.

Sprott Physical Gold Trust Price Performance

The stock’s 50 day simple moving average is $20.54 and its 200 day simple moving average is $20.13.

Hedge Funds Weigh In On Sprott Physical Gold Trust

Institutional investors have recently bought and sold shares of the business. Legacy Investment Solutions LLC bought a new position in shares of Sprott Physical Gold Trust during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. acquired a new stake in Sprott Physical Gold Trust in the second quarter worth about $51,000. St. Johns Investment Management Company LLC purchased a new stake in shares of Sprott Physical Gold Trust during the third quarter worth about $51,000. Missouri Trust & Investment Co raised its position in shares of Sprott Physical Gold Trust by 160.9% in the 3rd quarter. Missouri Trust & Investment Co now owns 2,609 shares of the exchange traded fund’s stock valued at $53,000 after purchasing an additional 1,609 shares during the last quarter. Finally, First Horizon Advisors Inc. purchased a new position in shares of Sprott Physical Gold Trust in the 3rd quarter valued at approximately $54,000.

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.