iShares Gold Trust (NYSEARCA:IAU) Sees Strong Trading Volume – Still a Buy?

Shares of iShares Gold Trust (NYSEARCA:IAU) saw an uptick in trading volume on Thursday . 21,458,438 shares traded hands during trading, an increase of 245% from the previous session’s volume of 6,226,254 shares.The stock last traded at $54.32 and had previously closed at $55.04.

iShares Gold Trust Stock Performance

The company has a market capitalization of $36.78 billion, a P/E ratio of -33.32 and a beta of 0.20. The firm’s fifty day moving average is $52.08 and its 200 day moving average is $50.36.

Institutional Investors Weigh In On iShares Gold Trust

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in iShares Gold Trust by 4,843.7% in the 3rd quarter. International Assets Investment Management LLC now owns 234,037 shares of the exchange traded fund’s stock valued at $11,632,000 after buying an additional 229,303 shares during the period. Gateway Wealth Partners LLC bought a new stake in shares of iShares Gold Trust during the third quarter valued at approximately $249,000. Valmark Advisers Inc. boosted its holdings in shares of iShares Gold Trust by 51.5% in the third quarter. Valmark Advisers Inc. now owns 13,155 shares of the exchange traded fund’s stock valued at $654,000 after purchasing an additional 4,473 shares during the period. Fidelis Capital Partners LLC grew its stake in iShares Gold Trust by 19.1% in the third quarter. Fidelis Capital Partners LLC now owns 50,945 shares of the exchange traded fund’s stock worth $2,613,000 after purchasing an additional 8,173 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors increased its holdings in iShares Gold Trust by 3.8% during the 3rd quarter. Vanguard Capital Wealth Advisors now owns 69,316 shares of the exchange traded fund’s stock worth $3,445,000 after purchasing an additional 2,540 shares during the period. 59.67% of the stock is owned by institutional investors.

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.