Lyell Wealth Management LP Takes $219,000 Position in iShares Gold Trust $IAU

Lyell Wealth Management LP bought a new stake in iShares Gold Trust (NYSEARCA:IAU) during the 2nd quarter, HoldingsChannel reports. The fund bought 3,517 shares of the exchange traded fund’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keener Financial Planning LLC purchased a new stake in shares of iShares Gold Trust in the second quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in iShares Gold Trust during the first quarter worth about $27,000. BankPlus Trust Department purchased a new stake in iShares Gold Trust during the first quarter worth about $27,000. Private Wealth Management Group LLC boosted its holdings in iShares Gold Trust by 290.9% during the second 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 in the last quarter. Finally, Garrison Bradford & Associates Inc. purchased a new stake in iShares Gold Trust during the first quarter worth about $29,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Trading Up 3.6%

IAU stock opened at $82.50 on Tuesday. The company has a market cap of $68.61 billion, a P/E ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a 52 week low of $48.29 and a 52 week high of $82.55. The company’s 50-day moving average price is $69.64 and its 200 day moving average price is $64.95.

About iShares Gold Trust

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.