iShares Gold Trust owns gold transferred to the Trust in exchange for shares issued by the Trust (Shares). The assets of the Trust consist primarily of gold held by the Trust's custodian on behalf of the Trust. The activities of the Trust are limited to issuing shares in exchange for the gold deposited with the Custodian as consideration, selling gold as necessary to cover the Sponsor's fee, Trust expenses not assumed by the Sponsor and other liabilities, and delivering gold in exchange for Baskets surrendered for redemption. It does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of gold. We show 283 historical shares outstanding datapoints in our IAU shares outstanding history coverage, used to compute IAU market cap on those dates.
Understanding the changing numbers of shares outstanding, the changing
share price, and the resulting changing IAU market cap history over the course of time is important for investors
interested in comparing IAU's market cap history versus its peers.
Many "beginner" or "novice" investors will look at one stock trading at a price of $10 per share and another trading at
a price of $20 per share and think the latter company is worth twice as much. Of course, that is a completely meaningless comparison without also knowing how many shares outstanding there are for each of the two companies,
and then calculating their respective market caps. Comparing the share price of IAU versus a peer is one thing; comparing
IAU market cap versus a peer is a completely different story.
Furthermore, via fluctuation both in per-share price and in the number of shares outstanding (via issuance of new shares over time, the repurchase of existing shares),
the market cap for a company like IAU can fluctuate over the course of history.
With this page we aim to empower investors researching IAU by allowing them to research the IAU market cap history. |
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Video: The Importance of Market Cap
