iShares Gold Trust (NYSEARCA:IAU) Sets New 52-Week High – What’s Next?

iShares Gold Trust (NYSEARCA:IAU)’s stock price reached a new 52-week high on Thursday . The company traded as high as $57.71 and last traded at $57.65, with a volume of 2697433 shares changing hands. The stock had previously closed at $56.92.

iShares Gold Trust Stock Performance

The company has a market capitalization of $41.21 billion, a price-to-earnings ratio of -34.13 and a beta of 0.20. The firm has a fifty day moving average price of $54.48 and a 200-day moving average price of $51.57.

Institutional Investors Weigh In On iShares Gold Trust

A number of large investors have recently bought and sold shares of IAU. Bank of New York Mellon Corp boosted its position in shares of iShares Gold Trust by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,136,328 shares of the exchange traded fund’s stock worth $56,260,000 after acquiring an additional 62,195 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in iShares Gold Trust during the fourth quarter worth $442,000. Sanchez Wealth Management Group acquired a new stake in shares of iShares Gold Trust in the 4th quarter valued at $228,000. JPMorgan Chase & Co. increased its stake in shares of iShares Gold Trust by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock valued at $557,498,000 after purchasing an additional 981,362 shares during the last quarter. Finally, Independent Family Office LLC raised its holdings in shares of iShares Gold Trust by 4.1% during the 3rd quarter. Independent Family Office LLC now owns 425,857 shares of the exchange traded fund’s stock worth $21,155,000 after buying an additional 16,827 shares in the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.

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.