Allworth Financial LP Cuts Position in Sprott Physical Gold and Silver Trust $CEF

Key Points

• Allworth Financial cut its Sprott Physical Gold and Silver Trust position by 45% in the second quarter, selling 22,765 shares and retaining 27,845 shares valued at approximately $1.12 million.
• Several institutional investors increased or initiated holdings in CEF, including Weiss Asset Management, which opened an approximately $83 million position, and IMC Chicago, which purchased about $165 million worth of shares.
• CEF traded at $44.15, up 0.7%, with a 12-month range of $33.83 to $61.38. The closed-end trust invests primarily in fully allocated physical gold and silver bullion.

Allworth Financial LP cut its holdings in Sprott Physical Gold and Silver Trust (NYSEAMERICAN:CEF - Free Report) by 45.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,845 shares of the company's stock after selling 22,765 shares during the period. Allworth Financial LP's holdings in Sprott Physical Gold and Silver Trust were worth $1,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CEF. Titiun Yejiel bought a new stake in Sprott Physical Gold and Silver Trust in the second quarter worth about $2,012,000. Weiss Asset Management LP bought a new position in shares of Sprott Physical Gold and Silver Trust during the 1st quarter valued at approximately $83,009,000. International Assets Investment Management LLC increased its stake in shares of Sprott Physical Gold and Silver Trust by 67.0% during the 1st quarter. International Assets Investment Management LLC now owns 105,605 shares of the company's stock worth $5,105,000 after purchasing an additional 42,384 shares during the last quarter. IMC Chicago LLC purchased a new stake in shares of Sprott Physical Gold and Silver Trust during the 1st quarter worth approximately $165,346,000. Finally, Readystate Asset Management LP bought a new stake in shares of Sprott Physical Gold and Silver Trust in the 1st quarter worth approximately $2,620,000.

Sprott Physical Gold and Silver Trust Stock Up 0.7%

NYSEAMERICAN:CEF opened at $44.15 on Friday. Sprott Physical Gold and Silver Trust has a 12 month low of $33.83 and a 12 month high of $61.38. The firm's 50 day moving average is $42.99 and its 200 day moving average is $45.99.

About Sprott Physical Gold and Silver Trust

Sprott Physical Gold and Silver Trust is a closed-end precious metals trust that seeks to provide investors with exposure to physical gold and silver bullion. The trust generally invests in fully allocated, unencumbered bullion rather than mining companies, futures contracts or other financial derivatives.

The trust's holdings are stored with a custodian and are designed to provide direct ownership exposure to precious metals. Its portfolio is primarily composed of gold and silver bars that meet established industry standards, with the allocation between the two metals determined under the trust's investment mandate.

The trust has roots in Central Fund of Canada, a precious metals investment vehicle established in 1961.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.