iShares Gold Trust (NYSEARCA:IAU) Sets New 52-Week High – Should You Buy?

iShares Gold Trust (NYSEARCA:IAU)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $52.76 and last traded at $52.75, with a volume of 2382905 shares. The stock had previously closed at $52.00.

iShares Gold Trust Price Performance

The firm’s 50-day simple moving average is $50.31 and its 200 day simple moving average is $49.12.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new position in shares of iShares Gold Trust during the third quarter valued at $95,801,000. Truist Financial Corp grew its stake in iShares Gold Trust by 118.9% during the 2nd quarter. Truist Financial Corp now owns 2,465,359 shares of the exchange traded fund’s stock valued at $108,303,000 after acquiring an additional 1,339,100 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of iShares Gold Trust by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock valued at $557,498,000 after purchasing an additional 981,362 shares during the period. Park Avenue Securities LLC lifted its position in iShares Gold Trust by 6,538.7% in the 4th quarter. Park Avenue Securities LLC now owns 682,854 shares of the exchange traded fund’s stock worth $33,808,000 after buying an additional 672,568 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in iShares Gold Trust by 10,279.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 672,812 shares of the exchange traded fund’s stock valued at $33,128,000 after purchasing an additional 666,330 shares during the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Company Profile

iShares Gold Trust (the Trust) is to own gold transferred to the Trust in exchange for shares issued by the Trust (Shares). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist of gold held by the Trust’s custodian on behalf of the Trust.