iShares Gold Trust (NYSEARCA:IAU) Reaches New 52-Week High – Should You Buy?

iShares Gold Trust (NYSEARCA:IAU) shares hit a new 52-week high on Wednesday . The stock traded as high as $59.15 and last traded at $58.86, with a volume of 13274569 shares trading hands. The stock had previously closed at $58.96.

iShares Gold Trust Trading Down 0.2 %

The business has a 50 day simple moving average of $55.05 and a two-hundred day simple moving average of $51.90. The company has a market cap of $42.53 billion, a PE ratio of -35.73 and a beta of 0.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IAU. Tucker Asset Management LLC raised its position in shares of iShares Gold Trust by 106.9% in the 4th quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 263 shares during the period. Compass Financial Services Inc acquired a new position in shares of iShares Gold Trust in the 4th quarter valued at about $27,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of iShares Gold Trust during the 4th quarter worth about $28,000. Wintrust Investments LLC acquired a new stake in iShares Gold Trust during the 4th quarter worth approximately $29,000. Finally, Wood Tarver Financial Group LLC purchased a new position in iShares Gold Trust in the fourth quarter valued at approximately $31,000. 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.