Cornerstone Wealth Management LLC acquired a new position in iShares Gold Trust (NYSEARCA:IAU – Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,705 shares of the exchange traded fund’s stock, valued at approximately $218,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Tucker Asset Management LLC lifted its position in shares of iShares Gold Trust by 106.9% during the fourth quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock valued at $25,000 after buying an additional 263 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of iShares Gold Trust during the 4th quarter valued at approximately $28,000. Wintrust Investments LLC purchased a new position in shares of iShares Gold Trust during the 4th quarter valued at approximately $29,000. Wood Tarver Financial Group LLC purchased a new position in iShares Gold Trust in the 4th quarter valued at $31,000. Finally, Orion Capital Management LLC purchased a new position in shares of iShares Gold Trust during the 4th quarter worth $33,000. 59.67% of the stock is owned by hedge funds and other institutional investors.
iShares Gold Trust Stock Down 0.0%
NYSEARCA IAU opened at $63.45 on Friday. The business’s fifty day simple moving average is $62.60 and its 200-day simple moving average is $56.66. The firm has a market cap of $46.70 billion, a PE ratio of -38.57 and a beta of 0.12. iShares Gold Trust has a 52 week low of $43.35 and a 52 week high of $65.00.
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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