iShares Gold Trust (NYSEARCA:IAU) Sets New 52-Week High – Time to Buy?

iShares Gold Trust (NYSEARCA:IAU) shares reached a new 52-week high on Thursday . The stock 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 Price Performance

The company has a market cap of $41.64 billion, a P/E ratio of -34.13 and a beta of 0.20. The business’s 50 day moving average price is $54.75 and its 200-day moving average price is $51.69.

Institutional Investors Weigh In On iShares Gold Trust

Hedge funds have recently modified their holdings of the business. Tucker Asset Management LLC lifted its stake in shares of iShares Gold Trust by 106.9% during the 4th quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 263 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of iShares Gold Trust during the 4th quarter worth $27,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of iShares Gold Trust during the 4th quarter valued at approximately $28,000. Wintrust Investments LLC acquired a new position in shares of iShares Gold Trust during the fourth quarter worth $29,000. Finally, Wood Tarver Financial Group LLC bought a new position in iShares Gold Trust in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

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.