Mr. Sprott's firm sponsors some 35 funds and trusts including his firm's marketing differentiation, physical bullion trusts. In that respect he is a goldbugs goldbug.
From Kid Dynamite:
Regular readers of this blog are no strangers to the slick trading Eric Sprott exhibited in his own Physical Silver Trust ($PSLV: no positions). Sprott took advantage of
suckers“investors” bidding up the premium to Net Asset Value of his trust on the heels of gross misinformation and hype, selling the shares to these “investors” at a huge premium (and presumably reinvesting the proceeds into silver instruments at spot*).
But something strange happened in the last few weeks. See, The Sprott Foundation has been selling PSLV shares at a rapid clip (data from SEDI.CA).
This is strange, because PSLV is no longer trading at a big premium to Net Asset Value. In fact, recently, the premium has been below 2%, and has even approached zero percent.
Why, then, is Eric Sprott, On behalf of the Sprott Foundation, selling PSLV shares so rapidly? The Foundation has sold 3,089,445 shares (out of their total 4,642,070 shares held at the start of the period) since March, 21, 2013, and has been actively selling PSLV shares in the market every single day during since 3/21/13....MORE
