iShares Gold Trust Sees $281.5 Million Inflows This Week
In a notable trend within the exchange-traded fund (ETF) sector, the iShares Gold Trust (Symbol: IAU) has experienced a significant inflow of approximately $281.5 million. This marks a 0.7% increase in the number of outstanding units, rising from 722,500,000 to 727,500,000 over the past week.
The chart below illustrates the one-year price performance of IAU in relation to its 200-day moving average:
According to the chart, IAU’s 52-week low is $43.05 per share, while its peak reached $59.15. The latest trading price stood at $58.17. Analyzing the current share price in relation to the 200-day moving average is a useful technical analysis strategy, providing insights into market trends.
ETFs operate similarly to stocks, with investors buying and selling “units” instead of “shares.” These units can be exchanged like stocks, and there is the additional flexibility of creating or destroying units to meet investor demand. Each week, we track the changes in shares outstanding to identify ETFs that are experiencing significant inflows (indicating the creation of new units) or outflows (indicating the destruction of existing units). The creation of new units necessitates the purchase of the underlying assets, while the destruction involves selling them, potentially impacting the individual components within the ETFs.
Click here to find out which 9 other ETFs had notable inflows »
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
