Wealth Management Associates Inc. Lowers Stake in iShares Gold Trust $IAU

Wealth Management Associates Inc. cut its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,858 shares of the exchange traded fund’s stock after selling 510 shares during the quarter. Wealth Management Associates Inc.’s holdings in iShares Gold Trust were worth $1,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keener Financial Planning LLC purchased a new stake in shares of iShares Gold Trust during the second quarter worth about $25,000. Private Wealth Management Group LLC grew its holdings in iShares Gold Trust by 290.9% in the second quarter. Private Wealth Management Group LLC now owns 430 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 320 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in iShares Gold Trust in the first quarter valued at approximately $27,000. BankPlus Trust Department purchased a new stake in iShares Gold Trust in the first quarter valued at approximately $27,000. Finally, Garrison Bradford & Associates Inc. purchased a new stake in iShares Gold Trust in the first quarter valued at approximately $29,000. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Stock Performance

iShares Gold Trust stock opened at $74.59 on Wednesday. iShares Gold Trust has a 1 year low of $48.29 and a 1 year high of $82.55. The firm has a 50 day moving average price of $71.27 and a 200 day moving average price of $65.75. The company has a market cap of $61.75 billion, a price-to-earnings ratio of 5.53 and a beta of 0.09.

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.