Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Large Volume Increase – What’s Next?

Sprott Physical Gold Trust (NYSEARCA:PHYS) saw an uptick in trading volume on Monday . 4,389,017 shares changed hands during mid-day trading, an increase of 48% from the previous session’s volume of 2,958,656 shares.The stock last traded at $26.19 and had previously closed at $25.51.

Sprott Physical Gold Trust Price Performance

The stock’s 50 day simple moving average is $23.32 and its 200 day simple moving average is $21.65.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Several hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Sprott Physical Gold Trust during the fourth quarter valued at approximately $39,000. Smartleaf Asset Management LLC bought a new position in shares of Sprott Physical Gold Trust in the 4th quarter worth $40,000. Smithfield Trust Co purchased a new stake in shares of Sprott Physical Gold Trust during the 4th quarter worth $50,000. Creative Financial Designs Inc. ADV bought a new stake in Sprott Physical Gold Trust during the fourth quarter valued at about $50,000. Finally, NBC Securities Inc. grew its stake in Sprott Physical Gold Trust by 111,150.0% in the first quarter. NBC Securities Inc. now owns 2,225 shares of the exchange traded fund’s stock valued at $53,000 after purchasing an additional 2,223 shares during the last quarter.

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.