Sprott Physical Gold Trust (NYSEARCA:PHYS) Reaches New 12-Month Low – Here’s What Happened

Sprott Physical Gold Trust (NYSEARCA:PHYS) shares hit a new 52-week low on Thursday. The company traded as low as $29.12 and last traded at $29.1920, with a volume of 1,123,488 shares. The stock had previously closed at $30.10.

Sprott Physical Gold Trust Stock Performance

The company has a fifty day simple moving average of $31.55 and a 200-day simple moving average of $33.82.

Institutional Investors Weigh In On Sprott Physical Gold Trust

Several hedge funds have recently made changes to their positions in the company. CENTRAL TRUST Co acquired a new stake in Sprott Physical Gold Trust during the 3rd quarter valued at $203,202,000. Pekin Hardy Strauss Inc. purchased a new stake in Sprott Physical Gold Trust in the 3rd quarter worth about $138,180,000. Evanson Financial LLC purchased a new stake in Sprott Physical Gold Trust in the 2nd quarter worth about $108,576,000. IMC Chicago LLC boosted its position in Sprott Physical Gold Trust by 494.3% during the 1st quarter. IMC Chicago LLC now owns 2,449,218 shares of the exchange traded fund’s stock worth $86,800,000 after acquiring an additional 2,037,133 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in Sprott Physical Gold Trust during the 3rd quarter worth about $50,584,000.

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.