Your question apparently stems from a lack of understanding of the different pictures in quantum mechanics, that are Schrödinger picture, Heisenberg picture and Interaction picture.
In the Schrödinger picture, states are time-evolving, while observables are time-independent. The density matrix is another (more general) way of writing the state vector; its time evolution follows from the von-Neumann equation, which can be derived from the Schrödinger equation and its Hermitian conjugate, given by
$$ \mathrm i \hbar \frac{\partial}{\partial t} | \psi(t) \rangle_\mathrm{S} = H | \psi \rangle_\mathrm{S},$$
and
$$ -\mathrm i \hbar \frac{\partial}{\partial t} {}_{\mathrm S}\langle \psi(t)| = {}_{\mathrm S}\langle \psi(t)|H .$$
Take the time derivative of the density matrix here for a pure state (beware, there are partial derivatives, see http://en.wikipedia.org/wiki/Liouville%27s_theorem_%28Hamiltonian%29#Quantum_Liouville_equation), and use the product rule, you get
$$\mathrm i \hbar \frac{\partial}{\partial t}\rho_{\mathrm S} (t) = \mathrm i \hbar \frac{\partial}{\partial t} | \psi(t) \rangle_\mathrm{S} \langle \psi(t)| = \mathrm i \hbar \Bigl( \frac{\partial}{\partial t} | \psi(t) \rangle_\mathrm{S} \Bigr) {}_\mathrm{S} \langle \psi(t)| + \mathrm i \hbar | \psi(t) \rangle_\mathrm{S} \Bigl( \frac{\partial}{\partial t} {}_\mathrm{S} \langle \psi(t)|\Bigr) .$$
Now you can pull the $\mathrm i \hbar $ inside the bracket and substitute each of the brackets by the correspondings left hand sides of the Schrödinger equation and its Hermitian conjugate, to obtain
$$ \mathrm i \hbar \frac{\partial}{\partial t} | \psi(t) \rangle_\mathrm{S} \langle \psi(t)| = H | \psi \rangle_\mathrm{S} \langle \psi(t)| - | \psi(t) \rangle_\mathrm{S} \langle \psi(t)|H = [H,\rho_{\mathrm S}(t)]. $$
In the Heisenberg picture, the observables are evolving in time, while the states are constant.
The density matrix can be stated in any of these pictures, where you take the expectation value of an observable $A$ always via $\mathrm{Tr}[\rho_{\mathrm S}(t) A_{\mathrm S}] = \mathrm{Tr}[\rho_{\mathrm H} A_{\mathrm H}(t)] $.
Here $\mathrm S$
and $\mathrm H$ denote the Schrödinger and the Heisenberg picture.
Please note that
$$\rho_{\mathrm S}(0) = \rho_{\mathrm H} \text{ and } A_{\mathrm H} (0) = A_{\mathrm S} .$$
By using the unitary time evolution operator, we can show the equivalence of the pictures quite easy for the density matrix.
The unitary evolution operator is given (for time-independent Hamiltonian $H$)
$$ U(t) = \mathrm e^{-\mathrm i H t/\hbar} . $$
The density matrix at time $t$ is then given in the Schrödinger picture by
$$ \rho_\mathrm{S} (t) = U(t) \rho_{\mathrm S} (0) U^\dagger (t) ,$$
while the operators evolve in the Heisenberg picture as
$$ A_\mathrm{H} (t) = U^\dagger(t) A_{\mathrm H} (0) U (t) .$$
So we find for the expetation value for the observable $A$ the following:
$$ \langle A \rangle (t) = \mathrm{Tr}[\rho_{\mathrm S}(t) A_{\mathrm S}] = \mathrm{Tr} [ U(t) \rho_{\mathrm S}(0) U^\dagger (t) A_{\mathrm S} ]$$
in the Schrödinger picture. We can now very easy switch to the Heisenberg picture by using the cyclic property of the trace, i.e.
$$\mathrm{Tr} [ABC] = \mathrm{Tr} [BCA] = \mathrm{Tr} [CAB] ,$$
by cycling the first unitary operator to the end, so we obtain
$$\langle A \rangle (t) = \mathrm{Tr} [ \rho_{\mathrm S}(0) U^\dagger (t) A_{\mathrm S} U(t)] .$$
Using the equivalence of the two pictures at $t=0$, we can reqrite this as
$$\langle A \rangle (t) = \mathrm{Tr} [ \rho_{\mathrm H} U^\dagger (t) A_{\mathrm H}(0) U(t)] = \mathrm{Tr} [ \rho_{\mathrm H} A_{\mathrm H}(t)].$$