Townsend & Associates Inc cut its stake in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,753 shares of the exchange traded fund’s stock after selling 37,033 shares during the quarter. Townsend & Associates Inc’s holdings in iShares Gold Trust were worth $11,476,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Global Trust Asset Management LLC grew its position in iShares Gold Trust by 250.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 700 shares of the exchange traded fund’s stock worth $31,000 after purchasing an additional 500 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in iShares Gold Trust in the 2nd quarter worth about $31,000. Opal Wealth Advisors LLC acquired a new stake in iShares Gold Trust during the 2nd quarter worth about $34,000. Pacifica Partners Inc. acquired a new position in shares of iShares Gold Trust in the 2nd quarter valued at about $35,000. Finally, Chris Bulman Inc purchased a new stake in shares of iShares Gold Trust in the second quarter worth approximately $43,000. 59.67% of the stock is currently owned by institutional investors and hedge funds.
iShares Gold Trust Stock Down 0.7 %
Shares of IAU opened at $50.70 on Friday. The company’s 50 day moving average price is $49.92 and its 200 day moving average price is $46.73. iShares Gold Trust has a 52 week low of $36.57 and a 52 week high of $52.69.
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.
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