Independent Financial Group LLC Buys New Stake in Sprott Physical Gold Trust $PHYS

Independent Financial Group LLC bought a new stake in shares of Sprott Physical Gold Trust (NYSEARCA:PHYS) during the 1st quarter, Holdings Channel reports. The firm bought 16,345 shares of the exchange traded fund’s stock, valued at approximately $579,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in shares of Sprott Physical Gold Trust during the first quarter valued at about $260,000. Focus Partners Wealth bought a new position in Sprott Physical Gold Trust in the 1st quarter valued at about $200,000. Cerity Partners LLC grew its position in Sprott Physical Gold Trust by 14.0% in the 2nd quarter. Cerity Partners LLC now owns 77,964 shares of the exchange traded fund’s stock valued at $1,976,000 after buying an additional 9,585 shares in the last quarter. NewEdge Advisors LLC increased its stake in Sprott Physical Gold Trust by 43.6% during the 2nd quarter. NewEdge Advisors LLC now owns 91,329 shares of the exchange traded fund’s stock valued at $2,315,000 after buying an additional 27,724 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in Sprott Physical Gold Trust during the 2nd quarter valued at about $489,000.

Sprott Physical Gold Trust Stock Performance

PHYS stock opened at $31.22 on Thursday. Sprott Physical Gold Trust has a 52 week low of $25.00 and a 52 week high of $42.07. The firm’s 50-day moving average is $32.08 and its two-hundred day moving average is $34.99.

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.