Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 1-Year High – Still a Buy?

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high on Wednesday . The company traded as high as $24.20 and last traded at $24.14, with a volume of 6593286 shares trading hands. The stock had previously closed at $24.06.

Sprott Physical Gold Trust Stock Performance

The stock has a 50-day moving average of $22.70 and a two-hundred day moving average of $21.29.

Hedge Funds Weigh In On Sprott Physical Gold Trust

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Sprott Physical Gold Trust during the 4th quarter valued at about $44,631,000. Matauro LLC purchased a new stake in shares of Sprott Physical Gold Trust during the fourth quarter valued at approximately $40,017,000. IMC Chicago LLC increased its position in shares of Sprott Physical Gold Trust by 5,078.7% during the fourth quarter. IMC Chicago LLC now owns 2,025,763 shares of the exchange traded fund’s stock valued at $40,799,000 after acquiring an additional 1,986,646 shares in the last quarter. Jane Street Group LLC increased its position in shares of Sprott Physical Gold Trust by 601.5% during the fourth quarter. Jane Street Group LLC now owns 1,989,077 shares of the exchange traded fund’s stock valued at $40,060,000 after acquiring an additional 1,705,537 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in Sprott Physical Gold Trust by 1,026.9% in the 4th quarter. Kestra Advisory Services LLC now owns 1,451,077 shares of the exchange traded fund’s stock worth $29,225,000 after acquiring an additional 1,322,305 shares during the last quarter.

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.