Sprott Physical Gold Trust (NYSEARCA:PHYS) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) saw strong trading volume on Thursday . 13,339,318 shares were traded 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 Price Performance

The firm has a 50-day moving average of $33.91 and a 200-day moving average of $30.27.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PHYS. Ameriflex Group Inc. lifted its position in Sprott Physical Gold Trust by 66.7% during the second quarter. Ameriflex Group Inc. now owns 1,000 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 400 shares in the last quarter. Manchester Capital Management LLC bought a new position in shares of Sprott Physical Gold Trust in the second quarter worth about $25,000. Tradewinds Capital Management LLC lifted its position in shares of Sprott Physical Gold Trust by 59.8% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,088 shares of the exchange traded fund’s stock valued at $28,000 after buying an additional 407 shares in the last quarter. MTM Investment Management LLC bought a new position in shares of Sprott Physical Gold Trust during the 2nd quarter valued at approximately $30,000. Finally, Hilltop National Bank bought a new position in shares of Sprott Physical Gold Trust during 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.