Envestnet Asset Management Inc. Purchases 361,514 Shares of Sprott Physical Gold Trust (NYSEARCA:PHYS)

Envestnet Asset Management Inc. grew its position in Sprott Physical Gold Trust (NYSEARCA:PHYS) by 28.8% in the second quarter, HoldingsChannel.com reports. The firm owned 1,615,548 shares of the exchange traded fund’s stock after acquiring an additional 361,514 shares during the period. Envestnet Asset Management Inc.’s holdings in Sprott Physical Gold Trust were worth $29,177,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Sprott Physical Gold Trust by 29.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 2,271,370 shares of the exchange traded fund’s stock worth $41,021,000 after purchasing an additional 518,649 shares during the period. Bluefin Capital Management LLC boosted its position in shares of Sprott Physical Gold Trust by 478.6% in the first quarter. Bluefin Capital Management LLC now owns 2,023,920 shares of the exchange traded fund’s stock worth $35,014,000 after purchasing an additional 1,674,108 shares during the period. Captrust Financial Advisors boosted its position in shares of Sprott Physical Gold Trust by 4.1% in the first quarter. Captrust Financial Advisors now owns 1,823,029 shares of the exchange traded fund’s stock worth $31,538,000 after purchasing an additional 71,602 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Sprott Physical Gold Trust by 16.1% in the second quarter. Commonwealth Equity Services LLC now owns 1,777,810 shares of the exchange traded fund’s stock worth $32,107,000 after purchasing an additional 247,138 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of Sprott Physical Gold Trust by 791.8% in the first quarter. Cetera Investment Advisers now owns 1,091,188 shares of the exchange traded fund’s stock worth $18,878,000 after purchasing an additional 968,835 shares during the period.

Sprott Physical Gold Trust Trading Up 1.1 %

PHYS opened at $20.33 on Friday. The company has a 50 day simple moving average of $19.23 and a two-hundred day simple moving average of $18.38. Sprott Physical Gold Trust has a 1-year low of $14.00 and a 1-year high of $20.35.

Sprott Physical Gold Trust 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.