Goldman Sachs Physical Gold ETF (NYSEARCA:AAAU) Hits New 12-Month High – Should You Buy?

Goldman Sachs Physical Gold ETF (NYSEARCA:AAAU)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $28.14 and last traded at $28.13, with a volume of 1338198 shares trading hands. The stock had previously closed at $27.85.

Goldman Sachs Physical Gold ETF Stock Down 0.3 %

The firm’s fifty day simple moving average is $26.51 and its 200-day simple moving average is $25.86.

Hedge Funds Weigh In On Goldman Sachs Physical Gold ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Fermata Advisors LLC bought a new position in Goldman Sachs Physical Gold ETF during the 3rd quarter valued at about $350,000. Silverlake Wealth Management LLC bought a new position in Goldman Sachs Physical Gold ETF during the third quarter valued at approximately $537,000. Capstone Wealth Management Group LLC bought a new position in Goldman Sachs Physical Gold ETF during the third quarter valued at approximately $403,000. Moulton Wealth Management Inc. boosted its holdings in Goldman Sachs Physical Gold ETF by 42.5% in the third quarter. Moulton Wealth Management Inc. now owns 132,680 shares of the company’s stock worth $3,480,000 after purchasing an additional 39,585 shares during the last quarter. Finally, Raymond James & Associates grew its position in Goldman Sachs Physical Gold ETF by 106.5% in the 3rd quarter. Raymond James & Associates now owns 436,765 shares of the company’s stock worth $11,367,000 after purchasing an additional 225,226 shares during the period.

Goldman Sachs Physical Gold ETF Company Profile

The Goldman Sachs Physical Gold ETF (AAAU) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses and liabilities, using gold bars held in vaults located in the UK. AAAU was launched on Jul 26, 2018 and is issued by Goldman Sachs.