Summit X LLC lowered its stake in iShares Gold Trust (NYSEARCA:IAU – Free Report) by 8.7% during the second quarter, Holdings Channel.com reports. The fund owned 58,102 shares of the exchange traded fund’s stock after selling 5,516 shares during the quarter. Summit X LLC’s holdings in iShares Gold Trust were worth $3,623,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Keener Financial Planning LLC purchased a new stake in shares of iShares Gold Trust during the second quarter worth about $25,000. BankPlus Trust Department purchased a new position in iShares Gold Trust in the 1st quarter valued at about $27,000. Private Wealth Management Group LLC boosted its holdings in iShares Gold Trust by 290.9% in the 2nd quarter. Private Wealth Management Group LLC now owns 430 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 320 shares during the last quarter. Key Financial Inc acquired a new stake in iShares Gold Trust in the 2nd quarter worth about $28,000. Finally, Garrison Bradford & Associates Inc. purchased a new stake in iShares Gold Trust during the 1st quarter worth approximately $29,000. 59.67% of the stock is currently owned by institutional investors and hedge funds.
iShares Gold Trust Price Performance
NYSEARCA IAU opened at $75.43 on Friday. The stock’s 50 day simple moving average is $73.08 and its 200-day simple moving average is $66.46. The company has a market cap of $62.16 billion, a PE ratio of 5.53 and a beta of 0.09. iShares Gold Trust has a 1-year low of $48.29 and a 1-year high of $82.55.
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.
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