Summit X LLC lowered its stake in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,102 shares of the exchange traded fund’s stock after selling 5,516 shares during the period. Summit X LLC’s holdings in iShares Gold Trust were worth $3,623,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Keener Financial Planning LLC acquired a new stake in iShares Gold Trust in the second quarter worth about $25,000. Private Wealth Management Group LLC raised its position in iShares Gold Trust by 290.9% during the second quarter. Private Wealth Management Group LLC now owns 430 shares of the exchange traded fund’s stock valued at $27,000 after acquiring an additional 320 shares in the last quarter. Key Financial Inc purchased a new position in iShares Gold Trust during the second quarter valued at approximately $28,000. BankPlus Trust Department acquired a new position in iShares Gold Trust in the first quarter valued at approximately $27,000. Finally, Garrison Bradford & Associates Inc. acquired a new position in iShares Gold Trust in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.
iShares Gold Trust Price Performance
NYSEARCA:IAU opened at $75.43 on Friday. The company has a 50 day moving average price of $73.08 and a 200-day moving average price of $66.46. iShares Gold Trust has a 1-year low of $48.29 and a 1-year high of $82.55. The firm has a market cap of $62.16 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.
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