Sprott Physical Gold Trust (NYSEARCA:PHYS) Stock Crosses Above 200 Day Moving Average – Here’s Why

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.83 and traded as high as $20.48. Sprott Physical Gold Trust shares last traded at $20.38, with a volume of 2,895,991 shares trading hands.

Sprott Physical Gold Trust Trading Up 0.5 %

The business’s 50 day moving average is $20.39 and its 200 day moving average is $19.83.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Concourse Financial Group Securities Inc. increased its stake in Sprott Physical Gold Trust by 9.8% in the third quarter. Concourse Financial Group Securities Inc. now owns 6,893 shares of the exchange traded fund’s stock worth $140,000 after purchasing an additional 615 shares during the period. Raymond James & Associates grew its holdings in shares of Sprott Physical Gold Trust by 73.3% in the third quarter. Raymond James & Associates now owns 1,602,282 shares of the exchange traded fund’s stock worth $32,655,000 after purchasing an additional 677,623 shares during the last quarter. International Assets Investment Management LLC increased its stake in Sprott Physical Gold Trust by 2,471.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,859,518 shares of the exchange traded fund’s stock worth $58,277,000 after buying an additional 2,748,335 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Sprott Physical Gold Trust during the 2nd quarter valued at about $164,000. Finally, Vontobel Holding Ltd. purchased a new stake in Sprott Physical Gold Trust in the 3rd quarter valued at about $204,000.

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.