Sprott Physical Gold Trust (NYSEARCA:PHYS) Hits New 52-Week High – Should You Buy?

Sprott Physical Gold Trust (NYSEARCA:PHYS) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $26.42 and last traded at $26.28, with a volume of 684110 shares traded. The stock had previously closed at $25.89.

Sprott Physical Gold Trust Stock Up 1.5%

The stock’s fifty day simple moving average is $25.16 and its 200-day simple moving average is $22.92.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in Sprott Physical Gold Trust by 18.3% in the 1st quarter. Royal Bank of Canada now owns 7,917,978 shares of the exchange traded fund’s stock valued at $190,507,000 after buying an additional 1,225,695 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its stake in shares of Sprott Physical Gold Trust by 0.7% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 4,226,558 shares of the exchange traded fund’s stock worth $101,691,000 after acquiring an additional 29,770 shares during the period. Captrust Financial Advisors lifted its stake in shares of Sprott Physical Gold Trust by 7.5% in the 4th quarter. Captrust Financial Advisors now owns 2,447,510 shares of the exchange traded fund’s stock worth $49,293,000 after acquiring an additional 170,025 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Sprott Physical Gold Trust by 2.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,367,177 shares of the exchange traded fund’s stock valued at $56,954,000 after acquiring an additional 66,054 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Sprott Physical Gold Trust during the fourth quarter valued at approximately $44,631,000.

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.