The prospectus also noted that these won’t just hit all at once: “The trust intends to issue iShares on a continuous basis. The trust issues and redeems iShares only in blocks of 50,000 and integral multiples thereof. A block of 50,000 iShares is called a “Basket”. These transactions take place in exchange for gold. Only registered broker-dealers that become authorized participants by entering into a contract with the sponsor and the trustee may purchase or redeem Baskets. iShares will be offered to the public from time to time at prices that will reflect the price of gold and the trading price of the iShares on NYSE Arca at the time of the offer.”
As of the close on June 23, 2010, the net asset value of the trust was $3,369,957,882 and the NAV was $12.08, after giving effect to the ten-for-one share split effective June 24, 2010. Total assets listed as of December 31, 2009 are $1.914+ billion.
The IAU closed at $12.29 on Friday and the 52-week trading range is $8.90 to $12.36.
JON C. OGG
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