Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 12-Month High – Time to Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $36.32 and last traded at $36.2750, with a volume of 1604306 shares trading hands. The stock had previously closed at $35.03.

Sprott Physical Gold Trust Trading Up 3.4%

The stock’s 50-day moving average is $32.95 and its two-hundred day moving average is $29.67.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Several institutional investors and hedge funds have recently modified their holdings of the company. CENTRAL TRUST Co grew its position in Sprott Physical Gold Trust by 9.1% in the 3rd quarter. CENTRAL TRUST Co now owns 4,649,181 shares of the exchange traded fund’s stock valued at $137,709,000 after acquiring an additional 388,033 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of Sprott Physical Gold Trust by 2.0% in the second quarter. Pekin Hardy Strauss Inc. now owns 4,310,858 shares of the exchange traded fund’s stock valued at $109,280,000 after purchasing an additional 84,300 shares during the period. IMC Chicago LLC grew its holdings in shares of Sprott Physical Gold Trust by 2,849.6% in the second quarter. IMC Chicago LLC now owns 3,204,243 shares of the exchange traded fund’s stock valued at $81,228,000 after purchasing an additional 3,095,611 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Sprott Physical Gold Trust by 39.8% in the third quarter. Jupiter Asset Management Ltd. now owns 3,145,855 shares of the exchange traded fund’s stock valued at $92,913,000 after purchasing an additional 896,347 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Sprott Physical Gold Trust by 0.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,460,899 shares of the exchange traded fund’s stock worth $72,892,000 after buying an additional 7,559 shares during the period.

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. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.