Sprott Physical Gold Trust (NYSEARCA:PHYS – Get Free Report) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 1,046,398 shares, an increase of 48.9% from the July 15th total of 702,728 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 3,140,897 shares, the short-interest ratio is currently 0.3 days.
Sprott Physical Gold Trust Stock Down 1.3%
Shares of PHYS traded down $0.43 during mid-day trading on Tuesday, hitting $33.17. The company’s stock had a trading volume of 950,906 shares, compared to its average volume of 5,530,303. The firm has a 50-day simple moving average of $31.32 and a 200 day simple moving average of $34.51. Sprott Physical Gold Trust has a 1-year low of $25.42 and a 1-year high of $42.07.
Institutional Investors Weigh In On Sprott Physical Gold Trust
Hedge funds and other institutional investors have recently bought and sold shares of the business. Money Concepts Capital Corp lifted its stake in shares of Sprott Physical Gold Trust by 10.0% in the first quarter. Money Concepts Capital Corp now owns 276,345 shares of the exchange traded fund’s stock valued at $9,794,000 after purchasing an additional 25,056 shares during the period. Sanctuary Advisors LLC boosted its holdings in Sprott Physical Gold Trust by 29.2% during the fourth quarter. Sanctuary Advisors LLC now owns 426,979 shares of the exchange traded fund’s stock worth $14,099,000 after buying an additional 96,458 shares in the last quarter. AE Wealth Management LLC grew its position in Sprott Physical Gold Trust by 25.9% during the fourth quarter. AE Wealth Management LLC now owns 82,673 shares of the exchange traded fund’s stock worth $2,730,000 after buying an additional 16,997 shares during the period. Vise Technologies Inc. grew its position in Sprott Physical Gold Trust by 487.7% during the fourth quarter. Vise Technologies Inc. now owns 76,798 shares of the exchange traded fund’s stock worth $2,536,000 after buying an additional 63,731 shares during the period. Finally, Belpointe Asset Management LLC increased its holdings in Sprott Physical Gold Trust by 13.9% in the fourth quarter. Belpointe Asset Management LLC now owns 119,405 shares of the exchange traded fund’s stock valued at $3,943,000 after buying an additional 14,576 shares in the last quarter.
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. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.
Further Reading
- Five stocks we like better than Sprott Physical Gold Trust
- Home Depot Analysts See a Path to $375 and Beyond
- RTX Stock Gets a Radar Lock on a $23B Navy Win
- Berkshire Just Made a Huge Alphabet Bet—Should You Follow?
- Michael Burry Is Betting Against Palantir Again—Should Investors Care?
Receive News & Ratings for Sprott Physical Gold Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprott Physical Gold Trust and related companies with MarketBeat.com's FREE daily email newsletter.
