iShares Gold Trust (NYSEARCA:IAU) Hits New 12-Month High – Still a Buy?

Shares of iShares Gold Trust (NYSEARCA:IAU) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $57.71 and last traded at $57.65, with a volume of 2697433 shares traded. The stock had previously closed at $56.92.

iShares Gold Trust Stock Up 0.8 %

The stock has a market cap of $41.64 billion, a PE ratio of -34.13 and a beta of 0.20. The business’s fifty day moving average is $54.75 and its 200 day moving average is $51.69.

Institutional Trading of iShares Gold Trust

Several large investors have recently bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in shares of iShares Gold Trust by 2,943.8% in the 4th quarter. Proficio Capital Partners LLC now owns 65,535,203 shares of the exchange traded fund’s stock worth $3,244,648,000 after buying an additional 63,382,112 shares in the last quarter. Envestnet Asset Management Inc. grew its position in iShares Gold Trust by 200.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,778,652 shares of the exchange traded fund’s stock worth $533,651,000 after acquiring an additional 7,194,721 shares in the last quarter. LPL Financial LLC raised its holdings in iShares Gold Trust by 35.4% during the fourth quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock valued at $427,293,000 after buying an additional 2,257,590 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in iShares Gold Trust in the 3rd quarter worth approximately $95,801,000. Finally, Truist Financial Corp grew its stake in iShares Gold Trust by 56.8% in the 4th quarter. Truist Financial Corp now owns 4,160,293 shares of the exchange traded fund’s stock valued at $205,976,000 after buying an additional 1,507,442 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.