Mutual Advisors LLC Trims Stake in iShares Gold Trust $IAU

Mutual Advisors LLC lowered its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 52.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 72,997 shares of the exchange traded fund’s stock after selling 80,718 shares during the period. Mutual Advisors LLC’s holdings in iShares Gold Trust were worth $4,592,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keener Financial Planning LLC purchased a new position in shares of iShares Gold Trust during the second quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in iShares Gold Trust in the first quarter worth about $27,000. BankPlus Trust Department purchased a new stake in iShares Gold Trust in the first quarter worth about $27,000. Dunhill Financial LLC grew its holdings in 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 purchasing an additional 219 shares during the period. Finally, Garrison Bradford & Associates Inc. purchased a new stake in iShares Gold Trust in the first quarter worth about $29,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

Shares of IAU opened at $79.32 on Thursday. The stock has a market cap of $65.61 billion, a PE ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a fifty-two week low of $48.29 and a fifty-two week high of $79.39. The firm’s 50-day simple moving average is $68.60 and its two-hundred day simple moving average is $64.40.

iShares Gold Trust 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.