Sprott Physical Gold and Silver Trust (NYSEAMERICAN:CEF) Sees Large Growth in Short Interest

Key Points

• Short interest in Sprott Physical Gold and Silver Trust (NYSEAMERICAN:CEF) surged by 216.6% in August, increasing from 115,000 shares to 364,100 shares.
• The trust's share price increased by 1.0% to $33.32, with trading volumes at 357,326 shares, slightly below the average of 620,470 shares.
• Several institutional investors have recently modified their holdings, with notable acquisitions, including Kingstone Capital Partners' new stake valued at $114.7 million in the second quarter.

Sprott Physical Gold and Silver Trust (NYSEAMERICAN:CEF - Get Free Report) was the target of a large growth in short interest in August. As of August 15th, there was short interest totaling 364,100 shares, agrowthof216.6% from the July 31st total of 115,000 shares. Based on an average daily trading volume, of 487,600 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 487,600 shares, the days-to-cover ratio is presently 0.7 days.

Sprott Physical Gold and Silver Trust Stock Up 1.0%

CEF stock traded up $0.32 during mid-day trading on Friday, reaching $33.40. 969,709 shares of the company traded hands, compared to its average volume of 630,764. Sprott Physical Gold and Silver Trust has a 52-week low of $22.73 and a 52-week high of $33.58. The company has a fifty day moving average price of $31.14 and a 200-day moving average price of $29.37.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CEF. Susquehanna International Group LLP grew its holdings in Sprott Physical Gold and Silver Trust by 1,154.4% during the 4th quarter. Susquehanna International Group LLP now owns 131,850 shares of the company's stock valued at $3,133,000 after buying an additional 121,339 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Sprott Physical Gold and Silver Trust by 2.8% during the 4th quarter. Baird Financial Group Inc. now owns 1,378,907 shares of the company's stock valued at $32,763,000 after buying an additional 37,604 shares in the last quarter. Chapman Financial Group LLC purchased a new position in Sprott Physical Gold and Silver Trust during the 4th quarter valued at about $67,000. First Manhattan CO. LLC. grew its holdings in Sprott Physical Gold and Silver Trust by 42.9% during the 4th quarter. First Manhattan CO. LLC. now owns 56,457 shares of the company's stock valued at $1,341,000 after buying an additional 16,956 shares in the last quarter. Finally, Paradigm Capital Management LLC NV purchased a new position in Sprott Physical Gold and Silver Trust during the 4th quarter valued at about $223,000.

Sprott Physical Gold and Silver Trust Company Profile

Sprott Physical Gold & Silver Trust operates as a closed-ended investment fund/investment trust. The company was founded on October 26, 2017 and is headquartered in Toronto, Canada.