iShares Gold Trust (NYSEARCA:IAU) Sets New 12-Month High – Here’s What Happened

Shares of iShares Gold Trust (NYSEARCA:IAU) hit a new 52-week high on Tuesday . The stock traded as high as $54.95 and last traded at $54.88, with a volume of 10261583 shares traded. The stock had previously closed at $53.97.

iShares Gold Trust Price Performance

The firm has a 50 day moving average of $50.78 and a two-hundred day moving average of $49.52.

Institutional Investors Weigh In On iShares Gold Trust

A number of hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its holdings in 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 purchasing an additional 63,382,112 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of iShares Gold Trust in the third quarter valued at approximately $95,801,000. Truist Financial Corp increased its stake in shares of iShares Gold Trust by 56.8% in the fourth quarter. Truist Financial Corp now owns 4,160,293 shares of the exchange traded fund’s stock valued at $205,976,000 after buying an additional 1,507,442 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in iShares Gold Trust by 4,039.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,118,460 shares of the exchange traded fund’s stock worth $55,375,000 after buying an additional 1,091,440 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in 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 acquiring an additional 981,362 shares during the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.

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.