Goldman Sachs Physical Gold ETF (NYSEARCA:AAAU) Hits New 1-Year High – Should You Buy?

Goldman Sachs Physical Gold ETF (NYSEARCA:AAAU)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $30.29 and last traded at $30.00, with a volume of 1510563 shares. The stock had previously closed at $29.66.

Goldman Sachs Physical Gold ETF Stock Performance

The stock has a 50 day simple moving average of $28.12 and a two-hundred day simple moving average of $26.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AAAU. JPMorgan Chase & Co. acquired a new position in shares of Goldman Sachs Physical Gold ETF in the 3rd quarter valued at $52,000. Raymond James Financial Inc. acquired a new position in Goldman Sachs Physical Gold ETF in the fourth quarter valued at about $16,500,000. Harbor Capital Advisors Inc. lifted its position in Goldman Sachs Physical Gold ETF by 13.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 9,246 shares of the company’s stock valued at $240,000 after buying an additional 1,105 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Goldman Sachs Physical Gold ETF in the 4th quarter worth approximately $89,000. Finally, Stifel Financial Corp lifted its holdings in shares of Goldman Sachs Physical Gold ETF by 65.5% in the 3rd quarter. Stifel Financial Corp now owns 169,055 shares of the company’s stock worth $4,400,000 after acquiring an additional 66,889 shares during the last quarter.

About Goldman Sachs Physical Gold ETF

The Goldman Sachs Physical Gold ETF (AAAU) 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 located in the UK. AAAU was launched on Jul 26, 2018 and is issued by Goldman Sachs.