Goldman Sachs Physical Gold ETF (NYSEARCA:AAAU) Reaches New 1-Year High – Still a Buy?

Goldman Sachs Physical Gold ETF (NYSEARCA:AAAU) hit a new 52-week high on Thursday . The stock traded as high as $31.07 and last traded at $31.06, with a volume of 502243 shares traded. The stock had previously closed at $30.57.

Goldman Sachs Physical Gold ETF Stock Up 2.0 %

The business has a 50 day moving average price of $29.28 and a 200-day moving average price of $27.41.

Hedge Funds Weigh In On Goldman Sachs Physical Gold ETF

Institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. acquired a new position in Goldman Sachs Physical Gold ETF in the fourth quarter worth about $40,000. JPMorgan Chase & Co. bought a new position in Goldman Sachs Physical Gold ETF during the 3rd quarter worth approximately $52,000. Ameriflex Group Inc. acquired a new position in shares of Goldman Sachs Physical Gold ETF in the 4th quarter worth approximately $57,000. Compass Financial Services Inc acquired a new position in Goldman Sachs Physical Gold ETF in the fourth quarter worth $55,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Goldman Sachs Physical Gold ETF during the 4th quarter valued at about $89,000.

About Goldman Sachs Physical Gold ETF

The Goldman Sachs Physical Gold ETF (AAAU) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in vaults located in the UK. AAAU was launched on Jul 26, 2018 and is issued by Goldman Sachs.