iShares Gold Trust (NYSEARCA:IAU) Hits New 12-Month High – Still a Buy?

Shares of iShares Gold Trust (NYSEARCA:IAU) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $55.63 and last traded at $55.65, with a volume of 3176450 shares traded. The stock had previously closed at $55.39.

iShares Gold Trust Stock Up 0.5 %

The company has a 50 day moving average price of $51.75 and a 200-day moving average price of $50.20.

Institutional Investors Weigh In On iShares Gold Trust

Institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its stake in shares of iShares Gold Trust by 36.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,184 shares of the exchange traded fund’s stock worth $556,000 after purchasing an additional 3,015 shares during the last quarter. International Assets Investment Management LLC grew its position in iShares Gold Trust by 4,843.7% in the third quarter. International Assets Investment Management LLC now owns 234,037 shares of the exchange traded fund’s stock worth $11,632,000 after buying an additional 229,303 shares during the last quarter. Arkadios Wealth Advisors lifted its position in shares of iShares Gold Trust by 14.6% during the 3rd quarter. Arkadios Wealth Advisors now owns 14,687 shares of the exchange traded fund’s stock valued at $730,000 after acquiring an additional 1,875 shares during the last quarter. Modera Wealth Management LLC grew its holdings in shares of iShares Gold Trust by 1.5% in the 3rd quarter. Modera Wealth Management LLC now owns 64,124 shares of the exchange traded fund’s stock worth $3,187,000 after acquiring an additional 942 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its position in shares of iShares Gold Trust by 5.3% during the third quarter. Clear Harbor Asset Management LLC now owns 206,866 shares of the exchange traded fund’s stock worth $10,281,000 after purchasing an additional 10,349 shares during the period. 59.67% of the stock is currently owned by institutional investors and hedge funds.

About iShares Gold Trust

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.