Red Crane Wealth Management LLC Makes New $3.91 Million Investment in iShares Gold Trust (NYSEARCA:IAU)

Red Crane Wealth Management LLC acquired a new stake in iShares Gold Trust (NYSEARCA:IAU) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 78,894 shares of the exchange traded fund’s stock, valued at approximately $3,906,000. iShares Gold Trust makes up about 3.7% of Red Crane Wealth Management LLC’s investment portfolio, making the stock its 8th largest position.

Several other hedge funds have also recently modified their holdings of IAU. Quadrature Capital Ltd purchased a new position in iShares Gold Trust in the third quarter valued at about $95,801,000. Truist Financial Corp grew its holdings in iShares Gold Trust by 56.8% during the fourth quarter. Truist Financial Corp now owns 4,160,293 shares of the exchange traded fund’s stock valued at $205,976,000 after purchasing an additional 1,507,442 shares during the period. JPMorgan Chase & Co. increased its position in iShares Gold Trust by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock worth $557,498,000 after buying an additional 981,362 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in iShares Gold Trust by 6,538.7% during the fourth quarter. Park Avenue Securities LLC now owns 682,854 shares of the exchange traded fund’s stock valued at $33,808,000 after purchasing an additional 672,568 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in iShares Gold Trust by 10,279.7% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 672,812 shares of the exchange traded fund’s stock valued at $33,128,000 after buying an additional 666,330 shares in the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $54.97 on Wednesday. iShares Gold Trust has a 52-week low of $38.31 and a 52-week high of $55.70. The business’s fifty day moving average is $51.96 and its 200 day moving average is $50.33. The firm has a market cap of $37.31 billion, a price-to-earnings ratio of -33.32 and a beta of 0.20.

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.