Mechanics Financial Corp Has $308,000 Holdings in iShares Gold Trust $IAU

Mechanics Financial Corp lessened its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 3.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,936 shares of the exchange traded fund’s stock after selling 160 shares during the quarter. Mechanics Financial Corp’s holdings in iShares Gold Trust were worth $308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in iShares Gold Trust by 17.6% during the 1st quarter. GAMMA Investing LLC now owns 1,635 shares of the exchange traded fund’s stock valued at $96,000 after purchasing an additional 245 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in iShares Gold Trust during the 1st quarter valued at approximately $267,000. Kingswood Wealth Advisors LLC increased its position in iShares Gold Trust by 192.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 90,783 shares of the exchange traded fund’s stock valued at $5,344,000 after purchasing an additional 59,706 shares during the period. McAdam LLC increased its position in iShares Gold Trust by 4.6% during the 2nd quarter. McAdam LLC now owns 7,687 shares of the exchange traded fund’s stock valued at $479,000 after purchasing an additional 341 shares during the period. Finally, Summit Financial LLC increased its position in iShares Gold Trust by 232.6% during the 1st quarter. Summit Financial LLC now owns 279,758 shares of the exchange traded fund’s stock valued at $16,495,000 after purchasing an additional 195,640 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $72.65 on Friday. The company has a market capitalization of $55.66 billion, a PE ratio of 5.53 and a beta of 0.15. The company has a 50 day simple moving average of $66.23 and a two-hundred day simple moving average of $63.24. iShares Gold Trust has a fifty-two week low of $48.29 and a fifty-two week high of $73.43.

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.