Sprott Physical Gold Trust Falls After Follow-On Offering
September 07, 2012 at 11:20 AM EDT
Sprott Physical Gold Trust (NYSEArca: PHYS) declined Friday morning while gold prices moved higher after the closed-end fund priced a follow-on offering. PHYS was deviating from gold prices somewhat because the offering caused the premium to net asset value to contract. Closed-end funds such as...