Berger Financial Group Inc Invests $248,000 in iShares Gold Trust (NYSEARCA:IAU)

Berger Financial Group Inc bought a new stake in iShares Gold Trust (NYSEARCA:IAU) during the 4th quarter, HoldingsChannel.com reports. The fund bought 5,003 shares of the exchange traded fund’s stock, valued at approximately $248,000.

Several other hedge funds have also recently made changes to their positions in IAU. Bank of New York Mellon Corp grew its position in iShares Gold Trust by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,136,328 shares of the exchange traded fund’s stock worth $56,260,000 after purchasing an additional 62,195 shares during the period. Strategic Financial Concepts LLC purchased a new position in iShares Gold Trust in the 4th quarter valued at about $442,000. Sanchez Wealth Management Group purchased a new position in iShares Gold Trust in the 4th quarter valued at about $228,000. JPMorgan Chase & Co. boosted its holdings in shares of iShares Gold Trust by 9.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock worth $557,498,000 after purchasing an additional 981,362 shares during the last quarter. Finally, Silverleafe Capital Partners LLC grew its holdings in iShares Gold Trust by 0.4% in the 4th quarter. Silverleafe Capital Partners LLC now owns 188,431 shares of the exchange traded fund’s stock valued at $9,329,000 after buying an additional 689 shares in the last quarter. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust Stock Up 1.4 %

Shares of NYSEARCA:IAU opened at $63.23 on Tuesday. The business has a fifty day moving average of $57.93 and a two-hundred day moving average of $53.46. The stock has a market cap of $46.45 billion, a P/E ratio of -37.96 and a beta of 0.17. iShares Gold Trust has a 52-week low of $43.05 and a 52-week high of $64.98.

iShares Gold Trust Company Profile

iShares Gold Trust (the Trust) is to own gold transferred to the Trust in exchange for shares issued by the Trust (Shares). Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist of gold held by the Trust’s custodian on behalf of the Trust.