iShares Gold Trust (NYSEARCA:IAU) Hits New 1-Year High at $48.19

iShares Gold Trust (NYSEARCA:IAU) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.19 and last traded at $48.08, with a volume of 1524536 shares. The stock had previously closed at $47.48.

iShares Gold Trust Stock Performance

The business’s 50 day simple moving average is $46.27 and its 200 day simple moving average is $44.28.

Institutional Trading of iShares Gold Trust

A number of hedge funds have recently modified their holdings of the business. Private Ocean LLC purchased a new stake in iShares Gold Trust in the 1st quarter worth about $29,000. Pingora Partners LLC acquired a new stake in shares of iShares Gold Trust during the fourth quarter worth approximately $31,000. Global Trust Asset Management LLC grew its position in iShares Gold Trust by 250.0% during the second quarter. Global Trust Asset Management LLC now owns 700 shares of the exchange traded fund’s stock valued at $31,000 after purchasing an additional 500 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in iShares Gold Trust in the 2nd quarter valued at approximately $31,000. Finally, YHB Investment Advisors Inc. purchased a new stake in iShares Gold Trust in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors 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.