iShares Gold Trust Micro (NYSEARCA:IAUM) Sets New 52-Week High – Should You Buy?

iShares Gold Trust Micro (NYSEARCA:IAUM)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $38.01 and last traded at $38.10, with a volume of 73755 shares. The stock had previously closed at $37.56.

iShares Gold Trust Micro Stock Up 1.7%

The firm has a 50 day moving average price of $34.68 and a 200 day moving average price of $33.25.

Institutional Trading of iShares Gold Trust Micro

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. increased its position in shares of iShares Gold Trust Micro by 39.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,300,000 shares of the company’s stock valued at $306,807,000 after acquiring an additional 2,650,000 shares during the last quarter. Bank of America Corp DE increased its position in shares of iShares Gold Trust Micro by 14.2% during the second quarter. Bank of America Corp DE now owns 2,215,599 shares of the company’s stock valued at $73,093,000 after acquiring an additional 275,897 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of iShares Gold Trust Micro during the first quarter valued at approximately $62,074,000. AlTi Global Inc. purchased a new stake in shares of iShares Gold Trust Micro during the second quarter valued at approximately $46,193,000. Finally, Blue Trust Inc. increased its position in shares of iShares Gold Trust Micro by 2,907.8% during the second quarter. Blue Trust Inc. now owns 1,385,449 shares of the company’s stock valued at $45,706,000 after acquiring an additional 1,339,387 shares during the last quarter.

About iShares Gold Trust Micro

The iShares Gold Trust Micro (IAUM) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in vaults. IAUM was launched on Jun 15, 2021 and is managed by BlackRock.