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

Sprott Physical Gold Trust (NYSEARCA:PHYS) shares reached a new 52-week high on Wednesday . The stock traded as high as $23.52 and last traded at $23.49, with a volume of 4368336 shares traded. The stock had previously closed at $23.25.

Sprott Physical Gold Trust Trading Up 1.0 %

The business has a 50-day simple moving average of $22.01 and a 200-day simple moving average of $20.97.

Institutional Trading of Sprott Physical Gold Trust

Several large investors have recently modified their holdings of PHYS. Wealth Enhancement Advisory Services LLC raised its stake in Sprott Physical Gold Trust by 37.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 507,185 shares of the exchange traded fund’s stock valued at $10,215,000 after purchasing an additional 138,653 shares during the last quarter. SpringVest Wealth Management LLC bought a new position in shares of Sprott Physical Gold Trust in the fourth quarter valued at approximately $390,000. TFR Capital LLC. acquired a new position in shares of Sprott Physical Gold Trust in the 4th quarter worth approximately $315,000. Challenger Wealth Management bought a new stake in Sprott Physical Gold Trust during the 4th quarter worth approximately $334,000. Finally, Sunbelt Securities Inc. increased its holdings in Sprott Physical Gold Trust by 98.7% during the 4th quarter. Sunbelt Securities Inc. now owns 5,960 shares of the exchange traded fund’s stock valued at $119,000 after purchasing an additional 2,960 shares in 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.