Baird Financial Group Inc. Sells 247,313 Shares of Sprott Physical Gold and Silver Trust $CEF

Key Points

• Baird Financial Group reduced its CEF stake by 22.7% in the second quarter, selling 247,313 shares and retaining 841,648 shares valued at approximately $33.86 million.
• Several other institutional investors initiated or increased positions in the trust, including Sound Income Strategies, which boosted its holdings by 93.7%.
• CEF opened at $43.86, with a 52-week range of $33.70 to $61.38. The closed-end trust provides exposure to fully allocated physical gold and silver bullion rather than mining stocks or derivatives.

Baird Financial Group Inc. decreased its stake in shares of Sprott Physical Gold and Silver Trust (NYSEAMERICAN:CEF - Free Report) by 22.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 841,648 shares of the company's stock after selling 247,313 shares during the period. Baird Financial Group Inc. owned approximately 0.39% of Sprott Physical Gold and Silver Trust worth $33,860,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CEF. Markowski Investments acquired a new position in shares of Sprott Physical Gold and Silver Trust during the 2nd quarter worth about $26,000. Litman Gregory Wealth Management LLC acquired a new stake in Sprott Physical Gold and Silver Trust during the 4th quarter valued at $30,000. Ameritas Advisory Services LLC acquired a new stake in Sprott Physical Gold and Silver Trust during the second quarter worth approximately $46,000. Sound Income Strategies LLC lifted its position in Sprott Physical Gold and Silver Trust by 93.7% during the first quarter. Sound Income Strategies LLC now owns 1,439 shares of the company's stock worth $70,000 after acquiring an additional 696 shares during the last quarter. Finally, Bard Associates Inc. bought a new stake in shares of Sprott Physical Gold and Silver Trust during the fourth quarter worth approximately $69,000.

Sprott Physical Gold and Silver Trust Price Performance

CEF opened at $43.86 on Friday. The stock has a fifty day moving average of $42.94 and a 200-day moving average of $46.00. Sprott Physical Gold and Silver Trust has a fifty-two week low of $33.70 and a fifty-two week high of $61.38.

Sprott Physical Gold and Silver Trust Profile

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.