iShares Gold Trust (NYSEARCA:IAU) Sees Large Volume Increase – Should You Buy?

iShares Gold Trust (NYSEARCA:IAU) saw an uptick in trading volume on Friday . 26,767,832 shares changed hands during trading, an increase of 347% from the previous session’s volume of 5,986,495 shares.The stock last traded at $50.73 and had previously closed at $51.06.

iShares Gold Trust Stock Performance

The firm has a 50 day moving average of $49.92 and a two-hundred day moving average of $46.73.

Institutional Investors Weigh In On iShares Gold Trust

Institutional investors have recently added to or reduced their stakes in the business. Archer Investment Corp lifted its stake in iShares Gold Trust by 813.8% during the third quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock worth $30,000 after purchasing an additional 529 shares during the last quarter. Global Trust Asset Management LLC lifted its stake in iShares Gold Trust by 250.0% during the second quarter. Global Trust Asset Management LLC now owns 700 shares of the exchange traded fund’s stock worth $31,000 after purchasing an additional 500 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in iShares Gold Trust during the second quarter worth approximately $31,000. Opal Wealth Advisors LLC purchased a new stake in iShares Gold Trust during the second quarter worth approximately $34,000. Finally, Pacifica Partners Inc. purchased a new stake in iShares Gold Trust in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors 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.