iShares Gold Trust (NYSEARCA:IAU) Sets New 1-Year High – Time to Buy?

Shares of iShares Gold Trust (NYSEARCA:IAU) hit a new 52-week high during trading on Tuesday . The stock traded as high as $54.95 and last traded at $54.88, with a volume of 10261583 shares. The stock had previously closed at $53.97.

iShares Gold Trust Stock Up 1.7 %

The stock’s 50 day moving average is $50.78 and its 200 day moving average is $49.52.

Institutional Trading of iShares Gold Trust

Several hedge funds have recently added to or reduced their stakes in the company. Compass Financial Services Inc bought a new stake in shares of iShares Gold Trust during the 4th quarter valued at $27,000. Wintrust Investments LLC acquired a new stake in iShares Gold Trust during the fourth quarter worth about $29,000. Archer Investment Corp increased its holdings in 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 approximately $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of iShares Gold Trust during the 4th quarter worth approximately $40,000. 59.67% of the stock is owned by institutional investors and hedge funds.

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.