iShares Gold Trust (NYSEARCA:IAU) Sets New 1-Year High – Still a Buy?

iShares Gold Trust (NYSEARCA:IAU) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.89 and last traded at $59.68, with a volume of 5311526 shares traded. The stock had previously closed at $58.38.

iShares Gold Trust Stock Up 1.9 %

The firm has a market capitalization of $44.04 billion, a P/E ratio of -35.73 and a beta of 0.17. The business’s 50-day simple moving average is $56.18 and its 200 day simple moving average is $52.47.

Institutional Trading of iShares Gold Trust

Several institutional investors have recently added to or reduced their stakes in the business. Principia Wealth Advisory LLC lifted its position in iShares Gold Trust by 0.4% in the first quarter. Principia Wealth Advisory LLC now owns 62,862 shares of the exchange traded fund’s stock valued at $3,670,000 after purchasing an additional 262 shares during the last quarter. Towneley Capital Management Inc DE increased its stake in shares of iShares Gold Trust by 2.4% in the first quarter. Towneley Capital Management Inc DE now owns 141,321 shares of the exchange traded fund’s stock worth $8,332,000 after buying an additional 3,278 shares during the period. Harrington Investments INC purchased a new stake in iShares Gold Trust during the 1st quarter valued at $227,000. KFG Wealth Management LLC purchased a new stake in iShares Gold Trust during the 1st quarter valued at $201,000. Finally, D. Scott Neal Inc. grew its holdings in iShares Gold Trust by 5.5% in the 1st quarter. D. Scott Neal Inc. now owns 73,762 shares of the exchange traded fund’s stock worth $4,349,000 after acquiring an additional 3,867 shares during the last quarter. 59.67% of the stock is currently owned by hedge funds and other 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.