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 Monday . 8,767,691 shares traded hands during trading, an increase of 43% from the previous session’s volume of 6,138,679 shares.The stock last traded at $60.51 and had previously closed at $60.96.

iShares Gold Trust Stock Up 0.6 %

The company has a 50-day moving average price of $56.45 and a 200-day moving average price of $52.62. The company has a market capitalization of $44.03 billion, a price-to-earnings ratio of -35.73 and a beta of 0.17.

Hedge Funds Weigh In On iShares Gold Trust

Several large investors have recently bought and sold shares of IAU. Tucker Asset Management LLC increased its position in shares of iShares Gold Trust by 106.9% during the fourth quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 263 shares during the period. Compass Financial Services Inc acquired a new stake in iShares Gold Trust during the fourth quarter worth $27,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in iShares Gold Trust in the 4th quarter valued at $28,000. Wintrust Investments LLC acquired a new position in shares of iShares Gold Trust in the 4th quarter valued at $29,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of iShares Gold Trust during the 4th quarter worth about $31,000. 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.