iShares Gold Trust (NYSEARCA:IAU) Sees Large Volume Increase – Should You Buy?

iShares Gold Trust (NYSEARCA:IAU) shares saw strong trading volume on Friday . 26,767,832 shares were traded during mid-day trading, an increase of 347% from the previous session’s volume of 5,986,495 shares.The stock last traded at $50.73 and had previously closed at $51.06.

iShares Gold Trust Stock Down 0.7 %

The company has a 50 day moving average of $49.92 and a 200 day moving average of $46.73.

Institutional Trading of iShares Gold Trust

Several large investors have recently added to or reduced their stakes in IAU. Archer Investment Corp raised its position in iShares Gold Trust by 813.8% in 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 in the last quarter. Global Trust Asset Management LLC raised its position in iShares Gold Trust by 250.0% in the 2nd 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 stake in iShares Gold Trust in the 2nd quarter valued at about $31,000. Opal Wealth Advisors LLC acquired a new stake in iShares Gold Trust in the 2nd quarter valued at about $34,000. Finally, Pacifica Partners Inc. acquired a new stake in iShares Gold Trust in the 2nd quarter valued at about $35,000. 59.67% of the stock is currently 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.