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

Sprott Physical Gold Trust (NYSEARCA:PHYS)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $35.20 and last traded at $35.1550, with a volume of 1709061 shares traded. The stock had previously closed at $34.41.

Sprott Physical Gold Trust Price Performance

The firm has a 50-day moving average price of $32.57 and a 200 day moving average price of $29.40.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameriflex Group Inc. grew its stake in shares of Sprott Physical Gold Trust by 66.7% in the second quarter. Ameriflex Group Inc. now owns 1,000 shares of the exchange traded fund’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. Manchester Capital Management LLC bought a new stake in Sprott Physical Gold Trust in the 2nd quarter valued at about $25,000. Tradewinds Capital Management LLC grew its position in shares of Sprott Physical Gold Trust by 59.8% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,088 shares of the exchange traded fund’s stock worth $28,000 after purchasing an additional 407 shares in the last quarter. MTM Investment Management LLC acquired a new position in shares of Sprott Physical Gold Trust during the 2nd quarter worth approximately $30,000. Finally, Hilltop National Bank bought a new position in shares of Sprott Physical Gold Trust during the second quarter worth approximately $32,000.

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.