iShares Gold Trust Micro (NYSEARCA:IAUM) Reaches New 12-Month High – Here’s Why

iShares Gold Trust Micro (NYSEARCA:IAUM)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $50.76 and last traded at $50.7650, with a volume of 699922 shares changing hands. The stock had previously closed at $49.66.

iShares Gold Trust Micro Stock Performance

The business’s 50-day moving average price is $43.57 and its 200 day moving average price is $39.14.

Institutional Trading of iShares Gold Trust Micro

A number of hedge funds and other institutional investors have recently modified their holdings of IAUM. NewEdge Advisors LLC raised its holdings in iShares Gold Trust Micro by 15.4% in the first quarter. NewEdge Advisors LLC now owns 30,731 shares of the company’s stock valued at $958,000 after acquiring an additional 4,108 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of iShares Gold Trust Micro in the 1st quarter worth about $7,793,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of iShares Gold Trust Micro in the 2nd quarter valued at about $288,000. SFM LLC lifted its position in shares of iShares Gold Trust Micro by 73.2% during the second quarter. SFM LLC now owns 218,143 shares of the company’s stock worth $7,197,000 after purchasing an additional 92,221 shares during the last quarter. Finally, Fifth Third Securities Inc. acquired a new position in iShares Gold Trust Micro in the second quarter worth about $930,000.

About iShares Gold Trust Micro

The iShares Gold Trust Micro (IAUM) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in vaults. IAUM was launched on Jun 15, 2021 and is managed by BlackRock.