iShares S&P/TSX Global Gold Index ETF (TSE:XGD) Shares Up 3.4% – Should You Buy?

Shares of iShares S&P/TSX Global Gold Index ETF (TSE:XGD) shot up 3.4% during mid-day trading on Monday . The stock traded as high as C$51.50 and last traded at C$50.74. 916,670 shares were traded during trading, an increase of 38% from the average session volume of 664,617 shares. The stock had previously closed at C$49.06.

iShares S&P/TSX Global Gold Index ETF Price Performance

The stock’s 50-day simple moving average is C$60.43 and its 200 day simple moving average is C$52.13.

About iShares S&P/TSX Global Gold Index ETF

The investment objective of the Fund is to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Global Gold Index the Index , net of expenses. Under normal market conditions, the Fund will primarily invest in equity securities issued by international issuers participating in the mining secto. To achieve its investment objective the Fund uses an indexing strategy. Under this strategy, the Fund seeks to replicate the performance of the Index, net of expenses, by employing, directly or indirectly, through investment in one or more iShares ETFs and/or through the use of derivatives, a replicating strategy or sampling strategy.