Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Significant Growth in Short Interest

Sprott Physical Gold Trust (NYSEARCA:PHYS) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,516,233 shares, an increase of 76.1% from the February 12th total of 861,198 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,572,105 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 4,572,105 shares, the short-interest ratio is presently 0.3 days. Currently, 0.3% of the shares of the stock are short sold.

Sprott Physical Gold Trust Price Performance

Shares of NYSEARCA:PHYS traded down $0.35 during midday trading on Friday, reaching $38.28. 2,803,842 shares of the company were exchanged, compared to its average volume of 8,731,972. The business’s fifty day moving average is $37.45 and its two-hundred day moving average is $32.97. Sprott Physical Gold Trust has a one year low of $22.72 and a one year high of $42.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Manchester Capital Management LLC bought a new stake in Sprott Physical Gold Trust in the 2nd quarter worth approximately $25,000. MTM Investment Management LLC bought a new stake in Sprott Physical Gold Trust in the second quarter worth $30,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Sprott Physical Gold Trust during the fourth quarter valued at $33,000. Financial Management Professionals Inc. purchased a new stake in Sprott Physical Gold Trust during the fourth quarter valued at $36,000. Finally, Parkside Financial Bank & Trust lifted its position in Sprott Physical Gold Trust by 36.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,500 shares of the exchange traded fund’s stock valued at $38,000 after purchasing an additional 400 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. The company was founded on August 28, 2009 and is headquartered in Toronto, Canada.