Canal Capital Management LLC Invests $1.34 Million in Sprott Physical Gold Trust $PHYS

Canal Capital Management LLC purchased a new stake in Sprott Physical Gold Trust (NYSEARCA:PHYS) during the first quarter, HoldingsChannel reports. The institutional investor purchased 37,777 shares of the exchange traded fund’s stock, valued at approximately $1,339,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PHYS. Kohmann Bosshard Financial Services LLC acquired a new position in Sprott Physical Gold Trust in the 4th quarter valued at approximately $33,000. Financial Management Professionals Inc. bought a new position in Sprott Physical Gold Trust during the 4th quarter worth approximately $36,000. Eastern Bank acquired a new position in shares of Sprott Physical Gold Trust in the 4th quarter worth approximately $47,000. Strategic Advocates LLC acquired a new position in shares of Sprott Physical Gold Trust in the 3rd quarter worth approximately $51,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Sprott Physical Gold Trust in the 4th quarter valued at $64,000.

Sprott Physical Gold Trust Stock Performance

PHYS opened at $31.08 on Friday. Sprott Physical Gold Trust has a twelve month low of $25.00 and a twelve month high of $42.07. The company has a fifty day moving average of $33.29 and a 200-day moving average of $35.24.

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.