Drive Wealth Management LLC Takes $500,000 Position in Sprott Physical Gold Trust (NYSEARCA:PHYS)

Drive Wealth Management LLC bought a new stake in Sprott Physical Gold Trust (NYSEARCA:PHYS) during the third quarter, HoldingsChannel reports. The fund bought 24,550 shares of the exchange traded fund’s stock, valued at approximately $500,000.

A number of other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of Sprott Physical Gold Trust in the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. purchased a new position in Sprott Physical Gold Trust during the 2nd quarter valued at $51,000. St. Johns Investment Management Company LLC bought a new position in Sprott Physical Gold Trust in the third quarter worth about $51,000. Missouri Trust & Investment Co raised its position in shares of Sprott Physical Gold Trust by 160.9% in the 3rd quarter. Missouri Trust & Investment Co now owns 2,609 shares of the exchange traded fund’s stock worth $53,000 after acquiring an additional 1,609 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Sprott Physical Gold Trust in the second quarter worth $55,000.

Sprott Physical Gold Trust Price Performance

Shares of PHYS opened at $19.67 on Monday. The business’s 50 day moving average price is $20.56 and its 200-day moving average price is $19.28. Sprott Physical Gold Trust has a 52 week low of $15.31 and a 52 week high of $21.70.

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.