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

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

iShares Gold Trust Price Performance

The company has a 50 day simple moving average of $50.39 and a 200 day simple moving average of $49.20.

Hedge Funds Weigh In On iShares Gold Trust

A number of large investors have recently modified their holdings of the business. Compass Financial Services Inc acquired a new stake in iShares Gold Trust in the 4th quarter valued at about $27,000. Archer Investment Corp lifted its position in shares of iShares Gold Trust by 813.8% during the 3rd quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock valued at $30,000 after acquiring an additional 529 shares during the period. Financial Life Planners bought a new stake in iShares Gold Trust during the fourth quarter worth about $33,000. Newbridge Financial Services Group Inc. acquired a new stake in iShares Gold Trust during the fourth quarter worth about $40,000. Finally, Valued Wealth Advisors LLC lifted its holdings in shares of 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 acquiring an additional 333 shares during the period. 59.67% of the stock is currently owned by institutional investors and hedge funds.

About iShares Gold Trust

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.