iShares Gold Trust (NYSEARCA:IAU) Sees Large Volume Increase

iShares Gold Trust (NYSEARCA:IAU) saw an uptick in trading volume on Friday . 4,411,756 shares traded hands during mid-day trading, a decline of 26% from the previous session’s volume of 5,978,442 shares.The stock last traded at $50.35 and had previously closed at $50.50.

iShares Gold Trust Stock Down 0.8 %

The company’s 50 day simple moving average is $47.20 and its 200-day simple moving average is $45.05.

Institutional Investors Weigh In On iShares Gold Trust

Hedge funds have recently bought and sold shares of the stock. Private Ocean LLC purchased a new position in shares of iShares Gold Trust during the first quarter worth approximately $29,000. Global Trust Asset Management LLC grew its position in shares of iShares Gold Trust by 250.0% in the 2nd quarter. Global Trust Asset Management LLC now owns 700 shares of the exchange traded fund’s stock worth $31,000 after buying an additional 500 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of iShares Gold Trust in the 2nd quarter worth approximately $31,000. YHB Investment Advisors Inc. purchased a new stake in shares of iShares Gold Trust in the first quarter worth $33,000. Finally, Opal Wealth Advisors LLC purchased a new position in iShares Gold Trust in the second quarter worth about $34,000. 59.67% of the stock is currently owned by institutional investors.

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.