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

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $22.97 and last traded at $22.98, with a volume of 429579 shares. The stock had previously closed at $22.78.

Sprott Physical Gold Trust Stock Up 1.1 %

The company’s fifty day moving average is $21.79 and its 200-day moving average is $20.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position in Sprott Physical Gold Trust by 7,000.0% in the fourth quarter. AdvisorNet Financial Inc now owns 3,550 shares of the exchange traded fund’s stock worth $71,000 after buying an additional 3,500 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sprott Physical Gold Trust by 74.1% during the third quarter. JPMorgan Chase & Co. now owns 395,289 shares of the exchange traded fund’s stock worth $8,056,000 after purchasing an additional 168,288 shares during the last quarter. Natixis Advisors LLC purchased a new position in shares of Sprott Physical Gold Trust during the third quarter valued at $219,000. PNC Financial Services Group Inc. increased its stake in shares of Sprott Physical Gold Trust by 28.9% during the third quarter. PNC Financial Services Group Inc. now owns 108,339 shares of the exchange traded fund’s stock valued at $2,208,000 after buying an additional 24,283 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Sprott Physical Gold Trust by 4.7% during the third quarter. Cerity Partners LLC now owns 43,654 shares of the exchange traded fund’s stock valued at $890,000 after buying an additional 1,950 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.