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

iShares Gold Trust (NYSEARCA:IAUGet Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $83.41 and last traded at $83.2740, with a volume of 882449 shares trading hands. The stock had previously closed at $81.71.

Trending Headlines about iShares Gold Trust

Here are the key news stories impacting iShares Gold Trust this week:

iShares Gold Trust Stock Performance

The stock has a fifty day simple moving average of $78.38 and a two-hundred day simple moving average of $70.31. The stock has a market cap of $69.78 billion, a price-to-earnings ratio of 5.53 and a beta of 0.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bay Harbor Wealth Management LLC raised its stake in shares of iShares Gold Trust by 63.6% during the third quarter. Bay Harbor Wealth Management LLC now owns 55,530 shares of the exchange traded fund’s stock valued at $4,041,000 after acquiring an additional 21,596 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its stake in shares of iShares Gold Trust by 79.9% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 51,910 shares of the exchange traded fund’s stock worth $3,237,000 after purchasing an additional 23,054 shares during the last quarter. Americana Partners LLC increased its holdings in iShares Gold Trust by 9.0% in the second quarter. Americana Partners LLC now owns 26,166 shares of the exchange traded fund’s stock valued at $1,632,000 after purchasing an additional 2,158 shares during the period. Farther Finance Advisors LLC raised its position in iShares Gold Trust by 24.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 126,633 shares of the exchange traded fund’s stock worth $9,215,000 after purchasing an additional 25,146 shares during the last quarter. Finally, Stokes Family Office LLC raised its position in iShares Gold Trust by 2.7% during the 2nd quarter. Stokes Family Office LLC now owns 93,539 shares of the exchange traded fund’s stock worth $5,833,000 after purchasing an additional 2,491 shares during the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Company Profile

(Get Free Report)

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. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the Sponsor), which is an indirect subsidiary of BlackRock, Inc The trustee of the Trust is The Bank of New York Mellon (the Trustee) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the Custodian).

Further Reading

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