iShares Gold Trust (NYSEARCA:IAU) Reaches New 12-Month High – Still a Buy?

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

iShares Gold Trust Stock Performance

The firm’s 50-day simple moving average is $51.37 and its two-hundred day simple moving average is $49.92.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Tucker Asset Management LLC lifted its holdings in shares of iShares Gold Trust by 106.9% during the 4th quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 263 shares during the last quarter. Compass Financial Services Inc bought a new position in iShares Gold Trust during the fourth quarter valued at approximately $27,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in iShares Gold Trust during the fourth quarter valued at approximately $28,000. Archer Investment Corp lifted its stake in iShares Gold Trust by 813.8% in the third quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock valued at $30,000 after acquiring an additional 529 shares during the last quarter. Finally, Wintrust Investments LLC bought a new stake in iShares Gold Trust in the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Company Profile

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.