Kovack Advisors Inc. Lowers Holdings in iShares Gold Trust (NYSEARCA:IAU)

Kovack Advisors Inc. decreased its stake in iShares Gold Trust (NYSEARCA:IAU) by 6.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,009 shares of the exchange traded fund’s stock after selling 447 shares during the quarter. Kovack Advisors Inc.’s holdings in iShares Gold Trust were worth $413,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Alpha Cubed Investments LLC boosted its position in iShares Gold Trust by 4.0% during the first quarter. Alpha Cubed Investments LLC now owns 4,325 shares of the exchange traded fund’s stock worth $255,000 after purchasing an additional 168 shares in the last quarter. Mosaic Family Wealth Partners LLC boosted its position in iShares Gold Trust by 1.5% during the first quarter. Mosaic Family Wealth Partners LLC now owns 11,345 shares of the exchange traded fund’s stock worth $669,000 after purchasing an additional 173 shares in the last quarter. Hoey Investments Inc. boosted its position in iShares Gold Trust by 30.4% during the first quarter. Hoey Investments Inc. now owns 750 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 175 shares in the last quarter. Trust Point Inc. boosted its position in iShares Gold Trust by 0.5% during the first quarter. Trust Point Inc. now owns 38,635 shares of the exchange traded fund’s stock worth $2,278,000 after purchasing an additional 176 shares in the last quarter. Finally, Quattro Financial Advisors LLC boosted its position in iShares Gold Trust by 4.7% during the first quarter. Quattro Financial Advisors LLC now owns 4,082 shares of the exchange traded fund’s stock worth $241,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Trading Down 1.0%

Shares of IAU stock opened at $62.91 on Friday. The company has a market capitalization of $47.85 billion, a P/E ratio of 5.53 and a beta of 0.15. The business’s 50 day moving average is $63.02 and its two-hundred day moving average is $58.95. iShares Gold Trust has a 12-month low of $44.77 and a 12-month high of $65.00.

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.