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

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) saw unusually-high trading volume on Thursday . Approximately 13,339,318 shares changed hands during mid-day trading, an increase of 72% from the previous session’s volume of 7,737,459 shares.The stock last traded at $39.7810 and had previously closed at $40.80.

Sprott Physical Gold Trust Trading Down 1.1%

The business’s fifty day moving average is $33.91 and its two-hundred day moving average is $30.27.

Institutional Investors Weigh In On Sprott Physical Gold Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameriflex Group Inc. raised its stake in shares of Sprott Physical Gold Trust by 66.7% during the 2nd quarter. Ameriflex Group Inc. now owns 1,000 shares of the exchange traded fund’s stock worth $25,000 after acquiring an additional 400 shares in the last quarter. Manchester Capital Management LLC acquired a new position in Sprott Physical Gold Trust during the 2nd quarter valued at about $25,000. Tradewinds Capital Management LLC grew its stake in shares of Sprott Physical Gold Trust by 59.8% during the second quarter. Tradewinds Capital Management LLC now owns 1,088 shares of the exchange traded fund’s stock worth $28,000 after acquiring an additional 407 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Sprott Physical Gold Trust during the second quarter valued at about $30,000. Finally, Hilltop National Bank purchased a new position in shares of Sprott Physical Gold Trust in the 2nd quarter valued at approximately $32,000.

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. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.