Kerntke Otto McGlone Wealth Management Group Invests $1.97 Million in Sprott Physical Gold Trust $PHYS

Kerntke Otto McGlone Wealth Management Group bought a new stake in Sprott Physical Gold Trust (NYSEARCA:PHYS) in the second quarter, HoldingsChannel reports. The fund bought 77,865 shares of the exchange traded fund’s stock, valued at approximately $1,974,000. Sprott Physical Gold Trust accounts for 1.6% of Kerntke Otto McGlone Wealth Management Group’s portfolio, making the stock its 14th largest position.

A number of other hedge funds also recently added to or reduced their stakes in PHYS. Sequoia Financial Advisors LLC lifted its holdings in Sprott Physical Gold Trust by 4.2% in the first quarter. Sequoia Financial Advisors LLC now owns 13,259 shares of the exchange traded fund’s stock valued at $319,000 after acquiring an additional 535 shares during the period. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Sprott Physical Gold Trust in the first quarter valued at approximately $273,000. Wealth Enhancement Advisory Services LLC raised its holdings in Sprott Physical Gold Trust by 131.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,172,384 shares of the exchange traded fund’s stock valued at $28,208,000 after acquiring an additional 665,199 shares during the last quarter. NBC Securities Inc. increased 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. Finally, IFP Advisors Inc increased its position in Sprott Physical Gold Trust by 40.4% during the first quarter. IFP Advisors Inc now owns 37,759 shares of the exchange traded fund’s stock worth $908,000 after purchasing an additional 10,872 shares during the last quarter.

Sprott Physical Gold Trust Price Performance

PHYS opened at $28.83 on Friday. Sprott Physical Gold Trust has a 1 year low of $19.63 and a 1 year high of $29.08. The firm has a 50 day moving average price of $26.63 and a 200 day moving average price of $25.49.

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.