Cannon Financial Strategists Inc. Invests $260,000 in Sprott Physical Gold Trust (NYSEARCA:PHYS)

Cannon Financial Strategists Inc. bought a new position in shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,417 shares of the exchange traded fund’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Sprott Physical Gold Trust by 29.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,271,370 shares of the exchange traded fund’s stock worth $41,021,000 after acquiring an additional 518,649 shares in the last quarter. Bluefin Capital Management LLC increased its position in shares of Sprott Physical Gold Trust by 478.6% during the first quarter. Bluefin Capital Management LLC now owns 2,023,920 shares of the exchange traded fund’s stock worth $35,014,000 after acquiring an additional 1,674,108 shares in the last quarter. Captrust Financial Advisors increased its position in shares of Sprott Physical Gold Trust by 4.1% during the first quarter. Captrust Financial Advisors now owns 1,823,029 shares of the exchange traded fund’s stock worth $31,538,000 after acquiring an additional 71,602 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of Sprott Physical Gold Trust by 16.1% during the second quarter. Commonwealth Equity Services LLC now owns 1,777,810 shares of the exchange traded fund’s stock worth $32,107,000 after acquiring an additional 247,138 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Sprott Physical Gold Trust by 28.8% during the second quarter. Envestnet Asset Management Inc. now owns 1,615,548 shares of the exchange traded fund’s stock worth $29,177,000 after purchasing an additional 361,514 shares during the last quarter.

Sprott Physical Gold Trust Stock Performance

Sprott Physical Gold Trust stock opened at $20.63 on Wednesday. Sprott Physical Gold Trust has a fifty-two week low of $14.00 and a fifty-two week high of $20.75. The firm’s 50-day simple moving average is $19.48 and its 200 day simple moving average is $18.58.

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.