iShares Gold Trust (NYSEARCA:IAU – Get Free Report) saw unusually-high trading volume on Thursday . Approximately 21,458,438 shares traded hands during mid-day trading, an increase of 245% from the previous session’s volume of 6,226,254 shares.The stock last traded at $54.32 and had previously closed at $55.04.
iShares Gold Trust Stock Down 1.5 %
The firm has a 50 day moving average of $52.08 and a 200 day moving average of $50.36. The firm has a market cap of $36.78 billion, a PE ratio of -33.32 and a beta of 0.20.
Institutional Investors Weigh In On iShares Gold Trust
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tucker Asset Management LLC increased its stake in shares of iShares Gold Trust by 106.9% in the fourth 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 bought a new position in shares of iShares Gold Trust during the fourth quarter valued at about $27,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of iShares Gold Trust in the fourth 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, Archer Investment Corp raised its position in iShares Gold Trust by 813.8% during the 3rd quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 529 shares during the last quarter. 59.67% of the stock is owned by hedge funds and other 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.
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