Spectrum Wealth Counsel LLC Increases Stock Position in iShares Gold Trust (NYSEARCA:IAU)

Spectrum Wealth Counsel LLC raised its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 798.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 209,790 shares of the exchange traded fund’s stock after purchasing an additional 186,436 shares during the quarter. iShares Gold Trust accounts for about 1.5% of Spectrum Wealth Counsel LLC’s holdings, making the stock its 19th biggest holding. Spectrum Wealth Counsel LLC’s holdings in iShares Gold Trust were worth $12,369,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Alpha Cubed Investments LLC boosted its position in iShares Gold Trust by 4.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 4,325 shares of the exchange traded fund’s stock valued at $255,000 after buying an additional 168 shares during the period. Mosaic Family Wealth Partners LLC raised its holdings in iShares Gold Trust by 1.5% in the 1st 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. raised its holdings in iShares Gold Trust by 30.4% in the 1st 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. raised its holdings in iShares Gold Trust by 0.5% in the 1st 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 raised its holdings in iShares Gold Trust by 4.7% in the 1st 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 NYSEARCA IAU opened at $62.91 on Friday. iShares Gold Trust has a 12 month low of $44.77 and a 12 month high of $65.00. The firm has a market capitalization of $47.85 billion, a PE ratio of 5.53 and a beta of 0.15. The firm has a fifty day simple moving average of $63.02 and a two-hundred day simple moving average of $59.01.

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.