iShares Gold Trust (NYSEARCA:IAU) Sees Unusually-High Trading Volume – Here’s What Happened

Posted by Renee Jackson on Nov 8th, 2024

iShares Gold Trust (NYSEARCA:IAU – Get Free Report) shares saw an uptick in trading volume on Friday . 26,767,832 shares traded hands during mid-day trading, an increase of 347% from the previous session’s volume of 5,986,495 shares.The stock last traded at $50.73 and had previously closed at $51.06.

iShares Gold Trust Trading Down 0.7 %

The company has a fifty day moving average of $49.85 and a two-hundred day moving average of $46.68.

Institutional Investors Weigh In On iShares Gold Trust

Several institutional investors have recently made changes to their positions in IAU. Norden Group LLC acquired a new stake in shares of iShares Gold Trust in the 1st quarter worth approximately $555,000. Geneos Wealth Management Inc. increased its position in shares of iShares Gold Trust by 13.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,446 shares of the exchange traded fund’s stock valued at $145,000 after buying an additional 396 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of iShares Gold Trust by 2.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 30,119 shares of the exchange traded fund’s stock worth $1,265,000 after buying an additional 631 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of iShares Gold Trust by 8.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 24,619 shares of the exchange traded fund’s stock worth $1,034,000 after buying an additional 1,830 shares in the last quarter. Finally, PFG Advisors grew its stake in iShares Gold Trust by 2.5% in the 1st quarter. PFG Advisors now owns 21,496 shares of the exchange traded fund’s stock valued at $903,000 after acquiring an additional 528 shares during the last quarter. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Company Profile

(Get Free Report)

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.