iShares Gold Trust (NYSEARCA:IAU) Sets New 52-Week High – Here’s Why

iShares Gold Trust (NYSEARCA:IAU)’s stock price hit a new 52-week high during trading on Tuesday . The company 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 Stock Performance

The stock has a fifty day simple moving average of $50.98 and a 200-day simple moving average of $49.66.

Institutional Investors Weigh In On iShares Gold Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TCP Asset Management LLC lifted its position in iShares Gold Trust by 3.0% during the 3rd quarter. TCP Asset Management LLC now owns 6,672 shares of the exchange traded fund’s stock worth $332,000 after buying an additional 195 shares in the last quarter. Quadrant Private Wealth Management LLC lifted its stake in iShares Gold Trust by 2.3% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 8,596 shares of the exchange traded fund’s stock valued at $426,000 after acquiring an additional 195 shares during the last quarter. TPG Advisors LLC grew its holdings in iShares Gold Trust by 0.7% during the fourth quarter. TPG Advisors LLC now owns 28,025 shares of the exchange traded fund’s stock worth $1,388,000 after purchasing an additional 199 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of iShares Gold Trust by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 53,600 shares of the exchange traded fund’s stock worth $2,654,000 after acquiring an additional 200 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its stake in iShares Gold Trust by 1.2% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 17,269 shares of the exchange traded fund’s stock valued at $850,000 after acquiring an additional 212 shares during the period. 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.