Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Significant Growth in Short Interest

Sprott Physical Gold Trust (NYSEARCA:PHYS) was the target of a significant increase in short interest during the month of 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. Based on an average daily volume of 3,140,897 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Several large investors have recently added to or reduced their stakes in PHYS. Heritage Wealth Advisors purchased a new stake in shares of Sprott Physical Gold Trust in the fourth quarter valued at approximately $169,676,000. Evanson Financial LLC purchased a new position in Sprott Physical Gold Trust during the 2nd quarter worth $108,576,000. IMC Chicago LLC raised its position in Sprott Physical Gold Trust by 494.3% during the 1st quarter. IMC Chicago LLC now owns 2,449,218 shares of the exchange traded fund’s stock valued at $86,800,000 after purchasing an additional 2,037,133 shares in the last quarter. CENTRAL TRUST Co raised its position in Sprott Physical Gold Trust by 26.3% during the 1st quarter. CENTRAL TRUST Co now owns 5,542,655 shares of the exchange traded fund’s stock valued at $196,432,000 after purchasing an additional 1,154,326 shares in the last quarter. Finally, 3EDGE Asset Management LP purchased a new stake in shares of Sprott Physical Gold Trust in the 4th quarter worth $31,652,000.

Sprott Physical Gold Trust Price Performance

Shares of PHYS opened at $34.09 on Thursday. Sprott Physical Gold Trust has a 12-month low of $25.55 and a 12-month high of $42.07. The firm has a fifty day moving average price of $31.40 and a 200-day moving average price of $34.41.

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.