Sprott Physical Gold Trust (NYSEARCA:PHYS) Share Price Passes Above Two Hundred Day Moving Average of $15.98

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.98 and traded as high as $18.64. Sprott Physical Gold Trust shares last traded at $18.52, with a volume of 2,044,055 shares traded.

Sprott Physical Gold Trust Stock Performance

The business’s 50-day moving average is $16.87 and its two-hundred day moving average is $15.98.

Hedge Funds Weigh In On Sprott Physical Gold Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Sprott Physical Gold Trust by 30.0% in the 1st quarter. Royal Bank of Canada now owns 6,120,005 shares of the exchange traded fund’s stock valued at $94,064,000 after purchasing an additional 1,413,756 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Sprott Physical Gold Trust by 95.5% in the 4th quarter. Truist Financial Corp now owns 3,126,984 shares of the exchange traded fund’s stock worth $44,090,000 after acquiring an additional 1,527,331 shares during the last quarter. Bluefin Capital Management LLC increased its stake in Sprott Physical Gold Trust by 30.3% during the 1st quarter. Bluefin Capital Management LLC now owns 2,212,081 shares of the exchange traded fund’s stock worth $34,199,000 after buying an additional 514,145 shares during the period. Captrust Financial Advisors increased its stake in Sprott Physical Gold Trust by 4.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,596,650 shares of the exchange traded fund’s stock worth $23,822,000 after buying an additional 61,719 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Sprott Physical Gold Trust by 20.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,575,338 shares of the exchange traded fund’s stock worth $23,504,000 after buying an additional 262,898 shares during the period.

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.