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Sprott Physical Gold and Silver Trust
CEF

187 hedge funds and large institutions have $57B invested in Sprott Physical Gold and Silver Trust in 2017 Q2 according to their latest regulatory filings, with 16 funds opening new positions, 44 increasing their positions, 59 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

14% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 14

0.26% more ownership

Funds ownership: 16.43% → 16.7% (+0.26%)

0% more funds holding

Funds holding: 187 → 187 (0)

4% less capital invested

Capital invested by funds: $59.4B → $57B (-$2.39B)

25% less repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 59

29% less funds holding in top 10

Funds holding in top 10: 7 → 5 (-2)

Holders
187
Holders Change
–
Holders Change %
0%
% of All Funds
4.66%
Holding in Top 10
5
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-28.57%
% of All Funds
0.12%
New
16
Increased
44
Reduced
59
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
FTIOP
Fiduciary Trust International of Pennsylvania
Pennsylvania
+$6.49M
2
Wellington Management Group
Wellington Management Group
Massachusetts
+$6.28M
3
CTC
Central Trust Company
Missouri
+$4.05M
4
Morgan Stanley
Morgan Stanley
New York
+$3.61M
5
Cohen & Steers
Cohen & Steers
New York
+$3.36M

Top Sellers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
-$8.77M
2
ICM
Ionic Capital Management
New York
-$7.02M
3
LCM
Landscape Capital Management
New Jersey
-$2.15M
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$1.74M
5
ECM
Evergreen Capital Management
Washington
-$1.35M
Name Holding Trade Value Shares
Change 		Change in
Stake
Wellington Management Group
26
Wellington Management Group
Massachusetts
$6.14M +$6.28M +498,404 New
CC
27
Cannell & Co
New York
$4.29M – – –
Baird Financial Group
28
Baird Financial Group
Wisconsin
$4.28M +$496K +39,361 +13%
ECM
29
Evergreen Capital Management
Washington
$3.96M -$1.35M -107,070 -25%
SC
30
Scotia Capital
Ontario, Canada
$3.92M -$138K -10,995 -3%
PP
31
Paloma Partners
Connecticut
$3.88M +$1.13M +90,000 +40%
UBS Group
32
UBS Group
Switzerland
$3.63M +$698K +55,383 +23%
AII
33
AGF Investments Inc
Ontario, Canada
$3.53M -$168K -13,300 -4%
CAN
34
Cetera Advisor Networks
California
$3.49M +$115K +9,134 +3%
Commonwealth Equity Services
35
Commonwealth Equity Services
Massachusetts
$3.43M -$43.4K -3,448 -1%
MHS
36
M Holdings Securities
Oregon
$3.43M -$532K -42,258 -13%
COLIM
37
City of London Investment Management
United Kingdom
$3.39M +$474K +37,629 +16%
HCM
38
Hollencrest Capital Management
California
$3.36M – – –
BTS
39
BB&T Securities
Virginia
$3.03M -$22.7K -1,800 -0.7%
Cambridge Investment Research Advisors
40
Cambridge Investment Research Advisors
Iowa
$2.96M -$173K -13,697 -5%
BA
41
Bennicas & Associates
California
$2.89M +$14.4K +1,140 +0.5%
OC
42
Oppenheimer & Co
New York
$2.86M +$563K +44,670 +24%
GIM
43
Greylin Investment Management
Virginia
$2.75M -$697K -55,300 -20%
HCM
44
Howland Capital Management
Massachusetts
$2.53M +$15.8K +1,255 +0.6%
WAM
45
Wolverine Asset Management
Illinois
$2.41M -$29.9K -2,370 -1%
Stifel Financial
46
Stifel Financial
Missouri
$2.33M +$209K +16,613 +9%
LTFS
47
Ladenburg Thalmann Financial Services
Florida
$2.26M +$79.2K +6,289 +4%
MCM
48
Marathon Capital Management
Maryland
$2.2M +$112K +8,875 +5%
Fiera Capital (Canada)
49
Fiera Capital (Canada)
Quebec, Canada
$2.06M – – –
OTC
50
Opera Trading Capital
France
$2.06M +$2.1M +166,884 New
1
2
3 4 5

CEF Hedge Fund Activity: Q2 2017 in Review

187 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Sprott Physical Gold and Silver Trust (CEF) for Q2 2017, worth a combined $57B — down 4% from $59.4B a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new CEF positions and 14 closed out — a net gain of 2 holders — while 44 added to existing stakes and 59 trimmed.

The largest buyer was Fiduciary Trust International of Pennsylvania, opening a new position worth an estimated $6.49M. The largest seller was LPL Financial, cutting an estimated $8.77M.

  • 187 institutional investors held Sprott Physical Gold and Silver Trust (CEF) as of Q2 2017, unchanged from Q1 2017.
  • Funds reported $57B of Sprott Physical Gold and Silver Trust stock for Q2 2017, down 4% quarter-over-quarter.
  • 16 funds opened new Sprott Physical Gold and Silver Trust positions in Q2 2017 and 14 closed out, a net change of +2 holders.
  • The largest Sprott Physical Gold and Silver Trust buyer in Q2 2017 was Fiduciary Trust International of Pennsylvania, an estimated $6.49M added.
  • The largest Sprott Physical Gold and Silver Trust seller in Q2 2017 was LPL Financial, an estimated $8.77M sold.

Based on aggregated 13F filings for Q2 2017.