iShares Gold Trust (NYSEARCA:IAU) Hits New 12-Month High – What’s Next?

iShares Gold Trust (NYSEARCA:IAU) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $69.45 and last traded at $69.38, with a volume of 4441909 shares traded. The stock had previously closed at $68.68.

iShares Gold Trust Stock Performance

The company has a market capitalization of $53.16 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15. The firm’s 50-day simple moving average is $64.26 and its 200-day simple moving average is $61.94.

Institutional Trading of iShares Gold Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. grew its position in iShares Gold Trust by 1.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,940,089 shares of the exchange traded fund’s stock worth $1,057,748,000 after purchasing an additional 339,286 shares during the last quarter. Envestnet Asset Management Inc. grew its position in iShares Gold Trust by 63.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 17,575,718 shares of the exchange traded fund’s stock worth $1,036,264,000 after purchasing an additional 6,797,066 shares during the last quarter. LPL Financial LLC grew its position in iShares Gold Trust by 29.6% in the 1st quarter. LPL Financial LLC now owns 11,182,842 shares of the exchange traded fund’s stock worth $659,340,000 after purchasing an additional 2,552,405 shares during the last quarter. JPMorgan Chase & Co. grew its position in iShares Gold Trust by 67.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,919,614 shares of the exchange traded fund’s stock worth $680,947,000 after purchasing an additional 4,398,605 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in iShares Gold Trust by 2.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,616,480 shares of the exchange traded fund’s stock worth $412,563,000 after purchasing an additional 148,881 shares during 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.