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

iShares Gold Trust (NYSEARCA:IAU)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $52.76 and last traded at $52.75, with a volume of 2382905 shares trading hands. The stock had previously closed at $52.00.

iShares Gold Trust Price Performance

The business’s 50-day simple moving average is $50.39 and its two-hundred day simple moving average is $49.20.

Institutional Investors Weigh In On iShares Gold Trust

A number of institutional investors have recently added to or reduced their stakes in IAU. AQR Capital Management LLC bought a new position in shares of iShares Gold Trust during the 2nd quarter worth approximately $683,000. Massmutual Trust Co. FSB ADV grew its stake in shares of iShares Gold Trust by 1.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 28,613 shares of the exchange traded fund’s stock worth $1,422,000 after acquiring an additional 338 shares in the last quarter. Unique Wealth LLC purchased a new position in shares of iShares Gold Trust in the 3rd quarter worth approximately $226,000. Farmers Trust Co. boosted its position in iShares Gold Trust by 17.8% in the third quarter. Farmers Trust Co. now owns 9,246 shares of the exchange traded fund’s stock worth $460,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Wiser Wealth Management Inc purchased a new stake in shares of iShares Gold Trust during the 3rd quarter valued at $203,000. 59.67% of the stock is owned by institutional investors.

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.