iShares Gold Trust (NYSEARCA:IAU) Hits New 12-Month High at $49.38

iShares Gold Trust (NYSEARCA:IAU) reached a new 52-week high during trading on Friday . The company traded as high as $49.38 and last traded at $49.38, with a volume of 76330 shares. The stock had previously closed at $48.89.

iShares Gold Trust Price Performance

The stock’s fifty day moving average is $46.71 and its 200 day moving average is $44.66.

Institutional Investors Weigh In On iShares Gold Trust

A number of institutional investors and hedge funds have recently modified their holdings of IAU. Truist Financial Corp boosted its position in iShares Gold Trust by 118.9% in the 2nd quarter. Truist Financial Corp now owns 2,465,359 shares of the exchange traded fund’s stock worth $108,303,000 after purchasing an additional 1,339,100 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in iShares Gold Trust during the first quarter valued at $30,021,000. Hsbc Holdings PLC increased its holdings in iShares Gold Trust by 713.8% in the second quarter. Hsbc Holdings PLC now owns 758,903 shares of the exchange traded fund’s stock valued at $33,339,000 after buying an additional 665,653 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in iShares Gold Trust in the second quarter valued at $26,134,000. Finally, Cetera Investment Advisers raised its position in shares of iShares Gold Trust by 545.9% in the first quarter. Cetera Investment Advisers now owns 694,118 shares of the exchange traded fund’s stock worth $29,160,000 after acquiring an additional 586,652 shares during the period. 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.