iShares Gold Trust (NYSEARCA:IAU) Sets New 1-Year High – What’s Next?

iShares Gold Trust (NYSEARCA:IAU) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $53.69 and last traded at $53.69, with a volume of 5737888 shares trading hands. The stock had previously closed at $53.17.

iShares Gold Trust Stock Performance

The firm’s 50-day moving average price is $50.63 and its 200 day moving average price is $49.38.

Institutional Trading of iShares Gold Trust

A number of institutional investors have recently bought and sold shares of the business. Compass Financial Services Inc acquired a new position in iShares Gold Trust during the fourth quarter valued at approximately $27,000. Archer Investment Corp grew its holdings in shares of iShares Gold Trust by 813.8% in the 3rd quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock valued at $30,000 after buying an additional 529 shares during the period. Financial Life Planners acquired a new position in shares of iShares Gold Trust in the 4th quarter valued at $33,000. Newbridge Financial Services Group Inc. acquired a new stake in iShares Gold Trust during the 4th quarter worth $40,000. Finally, Valued Wealth Advisors LLC raised its stake in iShares Gold Trust by 65.7% during the 4th quarter. Valued Wealth Advisors LLC now owns 840 shares of the exchange traded fund’s stock worth $42,000 after buying an additional 333 shares during the period. 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.