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

Sprott Physical Gold Trust (NYSEARCA:PHYS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $38.81 and last traded at $38.7550, with a volume of 2811092 shares traded. The stock had previously closed at $38.07.

Sprott Physical Gold Trust Stock Performance

The firm has a 50 day simple moving average of $33.40 and a two-hundred day simple moving average of $30.01.

Institutional Inflows and Outflows

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