iShares Gold Trust (NYSEARCA:IAU) Hits New 12-Month High – Time to Buy?

Shares of iShares Gold Trust (NYSEARCA:IAU) hit a new 52-week high during trading on Wednesday . The stock traded as high as $53.69 and last traded at $53.69, with a volume of 5737888 shares. The stock had previously closed at $53.17.

iShares Gold Trust Stock Down 0.2 %

The stock’s 50 day simple moving average is $50.63 and its two-hundred day simple moving average is $49.38.

Institutional Investors Weigh In On iShares Gold Trust

Several institutional investors have recently added to or reduced their stakes in IAU. Proficio Capital Partners LLC grew its stake in shares of iShares Gold Trust by 2,943.8% during 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. FMR LLC grew its position in iShares Gold Trust by 0.3% in the third quarter. FMR LLC now owns 23,065,092 shares of the exchange traded fund’s stock valued at $1,146,335,000 after purchasing an additional 60,784 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in iShares Gold Trust by 0.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,152,535 shares of the exchange traded fund’s stock valued at $902,181,000 after buying an additional 142,487 shares during the last quarter. Empower Advisory Group LLC lifted its position in iShares Gold Trust by 0.8% during the 3rd quarter. Empower Advisory Group LLC now owns 14,921,731 shares of the exchange traded fund’s stock worth $741,610,000 after buying an additional 111,210 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of iShares Gold Trust by 9.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock worth $557,498,000 after buying an additional 981,362 shares during the last quarter. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Company Profile

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.