iShares Gold Trust (NYSEARCA:IAU) Sees Unusually-High Trading Volume – Time to Buy?

iShares Gold Trust (NYSEARCA:IAU) shares saw unusually-strong trading volume on Monday . Approximately 8,767,691 shares changed hands during trading, an increase of 43% from the previous session’s volume of 6,138,679 shares.The stock last traded at $60.51 and had previously closed at $60.96.

iShares Gold Trust Stock Performance

The company has a market capitalization of $43.75 billion, a price-to-earnings ratio of -35.73 and a beta of 0.17. The stock’s fifty day simple moving average is $56.18 and its two-hundred day simple moving average is $52.49.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Proficio Capital Partners LLC boosted its holdings 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 acquiring an additional 63,382,112 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in iShares Gold Trust by 200.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 10,778,652 shares of the exchange traded fund’s stock worth $533,651,000 after buying an additional 7,194,721 shares in the last quarter. LPL Financial LLC grew its holdings in iShares Gold Trust by 35.4% during the 4th quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock worth $427,293,000 after acquiring an additional 2,257,590 shares during the last quarter. Truist Financial Corp lifted its position in shares of iShares Gold Trust by 56.8% during the fourth quarter. Truist Financial Corp now owns 4,160,293 shares of the exchange traded fund’s stock worth $205,976,000 after purchasing an additional 1,507,442 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of iShares Gold Trust by 10.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,288,826 shares of the exchange traded fund’s stock valued at $608,420,000 after buying an additional 1,183,962 shares during the period. 59.67% of the stock is owned by institutional investors.

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.