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

Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high during trading on Wednesday . The company traded as high as $22.49 and last traded at $22.42, with a volume of 3600757 shares changing hands. The stock had previously closed at $22.45.

Sprott Physical Gold Trust Price Performance

The business’s fifty day moving average is $20.82 and its two-hundred day moving average is $20.35.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new position in Sprott Physical Gold Trust during the third quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in shares of Sprott Physical Gold Trust during the 4th quarter worth about $39,000. Smartleaf Asset Management LLC bought a new position in Sprott Physical Gold Trust during the 4th quarter valued at about $40,000. Smithfield Trust Co bought a new position in Sprott Physical Gold Trust during the 4th quarter valued at about $50,000. Finally, Creative Financial Designs Inc. ADV purchased a new stake in Sprott Physical Gold Trust in the 4th quarter worth about $50,000.

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.