iShares Gold Trust (NYSEARCA:IAU) Hits New 1-Year High – What’s Next?

iShares Gold Trust (NYSEARCA:IAU)’s share price hit a new 52-week high on Tuesday . The company traded as high as $55.29 and last traded at $55.25, with a volume of 1386134 shares. The stock had previously closed at $54.46.

iShares Gold Trust Trading Up 0.0 %

The stock has a fifty day moving average price of $51.54 and a two-hundred day moving average price of $50.02.

Institutional Investors Weigh In On iShares Gold Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Tucker Asset Management LLC lifted its stake in iShares Gold Trust by 106.9% during the fourth quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 263 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of iShares Gold Trust during the 4th quarter valued at $27,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of iShares Gold Trust during the 4th quarter valued at $28,000. Archer Investment Corp boosted its stake in shares of iShares Gold Trust by 813.8% during the 3rd quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock worth $30,000 after acquiring an additional 529 shares in the last quarter. Finally, Wintrust Investments LLC acquired a new position in shares of iShares Gold Trust in the 4th quarter worth $29,000. 59.67% of the stock is currently owned by institutional investors and hedge funds.

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.