iShares Gold Trust (NYSEARCA:IAU) Hits New 12-Month High – What’s Next?

iShares Gold Trust (NYSEARCA:IAU)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $51.76 and last traded at $51.75, with a volume of 160986 shares changing hands. The stock had previously closed at $51.38.

iShares Gold Trust Stock Performance

The business’s 50 day simple moving average is $48.90 and its 200-day simple moving average is $46.16.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. WealthNavi Inc. increased its position in shares of iShares Gold Trust by 4.2% during the 3rd quarter. WealthNavi Inc. now owns 5,782,790 shares of the exchange traded fund’s stock valued at $287,405,000 after purchasing an additional 233,999 shares during the period. Envestnet Asset Management Inc. grew its holdings in iShares Gold Trust by 15.8% during the second quarter. Envestnet Asset Management Inc. now owns 3,518,705 shares of the exchange traded fund’s stock worth $154,577,000 after acquiring an additional 479,796 shares during the period. Commonwealth Equity Services LLC raised its position in iShares Gold Trust by 0.8% in the third quarter. Commonwealth Equity Services LLC now owns 3,062,509 shares of the exchange traded fund’s stock worth $152,207,000 after acquiring an additional 23,058 shares in the last quarter. Truist Financial Corp boosted its position in shares of iShares Gold Trust by 118.9% during the 2nd quarter. Truist Financial Corp now owns 2,465,359 shares of the exchange traded fund’s stock valued at $108,303,000 after purchasing an additional 1,339,100 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of iShares Gold Trust by 2.1% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,144,328 shares of the exchange traded fund’s stock worth $94,200,000 after purchasing an additional 44,515 shares during the last quarter. 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.