iShares Gold Trust (NYSEARCA:IAU) Sets New 1-Year High – Here’s What Happened

Shares of iShares Gold Trust (NYSEARCA:IAU) reached a new 52-week high on Tuesday . The stock traded as high as $54.95 and last traded at $54.88, with a volume of 10261583 shares traded. The stock had previously closed at $53.97.

iShares Gold Trust Price Performance

The company’s 50 day moving average is $50.98 and its 200 day moving average is $49.66.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IAU. Proficio Capital Partners LLC grew its position in iShares Gold Trust by 2,943.8% in the fourth quarter. Proficio Capital Partners LLC now owns 65,535,203 shares of the exchange traded fund’s stock valued at $3,244,648,000 after acquiring an additional 63,382,112 shares during the last quarter. LPL Financial LLC increased its position in iShares Gold Trust by 35.4% during the 4th quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock worth $427,293,000 after purchasing an additional 2,257,590 shares in the last quarter. Quadrature Capital Ltd bought a new position in iShares Gold Trust in the 3rd quarter valued at approximately $95,801,000. Truist Financial Corp boosted its position in iShares Gold Trust by 56.8% in the fourth quarter. Truist Financial Corp now owns 4,160,293 shares of the exchange traded fund’s stock valued at $205,976,000 after buying an additional 1,507,442 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of iShares Gold Trust by 10.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,288,826 shares of the exchange traded fund’s stock worth $608,420,000 after buying an additional 1,183,962 shares during the last quarter. 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.