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

iShares Gold Trust (NYSEARCA:IAU) reached a new 52-week high during trading on Wednesday . The company traded as high as $57.33 and last traded at $57.27, with a volume of 6102484 shares changing hands. The stock had previously closed at $56.62.

iShares Gold Trust Price Performance

The company has a market cap of $41.15 billion, a PE ratio of -34.13 and a beta of 0.20. The company’s 50 day simple moving average is $53.97 and its two-hundred day simple moving average is $51.27.

Hedge Funds Weigh In On iShares Gold Trust

Hedge funds have recently made changes to their positions in the stock. 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 worth $25,000 after purchasing an additional 263 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of iShares Gold Trust in the 4th quarter valued at $27,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in iShares Gold Trust during the 4th quarter worth about $28,000. Wintrust Investments LLC purchased a new position in iShares Gold Trust during the 4th quarter valued at about $29,000. Finally, Wood Tarver Financial Group LLC acquired a new position in iShares Gold Trust in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.

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.