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

iShares Gold Trust (NYSEARCA:IAU)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $55.29 and last traded at $55.25, with a volume of 1386134 shares trading hands. The stock had previously closed at $54.46.

iShares Gold Trust Price Performance

The firm has a 50 day moving average of $51.54 and a 200-day moving average of $50.02.

Institutional Investors Weigh In On iShares Gold Trust

A number of institutional investors have recently modified their holdings of IAU. Trilogy Capital Inc. acquired a new position in iShares Gold Trust during the third quarter worth $214,000. Telos Capital Management Inc. bought a new stake in shares of iShares Gold Trust in the 3rd quarter worth approximately $227,000. Sequoia Financial Advisors LLC boosted its stake in iShares Gold Trust by 36.9% during the third quarter. Sequoia Financial Advisors LLC now owns 11,184 shares of the exchange traded fund’s stock worth $556,000 after buying an additional 3,015 shares in the last quarter. Signaturefd LLC boosted its position in shares of iShares Gold Trust by 11.9% during the 3rd quarter. Signaturefd LLC now owns 22,264 shares of the exchange traded fund’s stock valued at $1,107,000 after acquiring an additional 2,362 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of iShares Gold Trust in the 3rd quarter valued at approximately $1,565,000. Institutional investors and hedge funds 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.