Merit Financial Group LLC lifted its position in iShares Gold Trust (NYSEARCA:IAU – Free Report) by 51.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,876 shares of the exchange traded fund’s stock after buying an additional 119,379 shares during the quarter. Merit Financial Group LLC’s holdings in iShares Gold Trust were worth $21,881,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of IAU. Smallwood Wealth Investment Management LLC purchased a new stake in shares of iShares Gold Trust in the first quarter worth about $27,000. BankPlus Trust Department purchased a new stake in shares of iShares Gold Trust in the first quarter worth about $27,000. Dunhill Financial LLC lifted its holdings in shares of iShares Gold Trust by 86.6% in the first quarter. Dunhill Financial LLC now owns 472 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 219 shares in the last quarter. Garrison Bradford & Associates Inc. purchased a new stake in shares of iShares Gold Trust in the first quarter worth about $29,000. Finally, North Capital Inc. purchased a new stake in shares of iShares Gold Trust in the first quarter worth about $34,000. 59.67% of the stock is owned by hedge funds and other institutional investors.
iShares Gold Trust Trading Up 0.8%
Shares of iShares Gold Trust stock opened at $73.22 on Friday. iShares Gold Trust has a 12-month low of $48.29 and a 12-month high of $73.43. The company has a market cap of $59.82 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15. The company’s 50-day moving average price is $66.44 and its 200-day moving average price is $63.39.
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.
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