iShares S&P/TSX Global Gold Index ETF (TSE:XGD) Trading Up 8.5% – Time to Buy?

iShares S&P/TSX Global Gold Index ETF (TSE:XGD) shares rose 8.5% on Wednesday . The stock traded as high as C$60.02 and last traded at C$59.80. Approximately 1,029,149 shares were traded during mid-day trading, an increase of 95% from the average daily volume of 527,920 shares. The stock had previously closed at C$55.13.

iShares S&P/TSX Global Gold Index ETF Stock Performance

The stock’s 50 day moving average price is C$49.63 and its 200-day moving average price is C$54.71.

iShares S&P/TSX Global Gold Index ETF Company Profile

The investment objective of the Fund is to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Global Gold Index the Index , net of expenses. Under normal market conditions, the Fund will primarily invest in equity securities issued by international issuers participating in the mining secto. To achieve its investment objective the Fund uses an indexing strategy. Under this strategy, the Fund seeks to replicate the performance of the Index, net of expenses, by employing, directly or indirectly, through investment in one or more iShares ETFs and/or through the use of derivatives, a replicating strategy or sampling strategy.