Archer Investment Corp Lowers Stock Holdings in iShares Gold Trust $IAU

Archer Investment Corp cut its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 37.8% in the second quarter, HoldingsChannel.com reports. The fund owned 6,592 shares of the exchange traded fund’s stock after selling 4,003 shares during the period. Archer Investment Corp’s holdings in iShares Gold Trust were worth $411,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Keener Financial Planning LLC acquired a new stake in shares of iShares Gold Trust in the second quarter worth approximately $25,000. MTM Investment Management LLC acquired a new stake in shares of iShares Gold Trust in the second quarter valued at about $25,000. Private Wealth Management Group LLC lifted its stake in shares of 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 worth $27,000 after buying an additional 320 shares in the last quarter. Key Financial Inc acquired a new position in iShares Gold Trust during the second quarter worth about $28,000. Finally, Traub Capital Management LLC purchased a new stake in iShares Gold Trust during the 2nd quarter valued at about $31,000. 59.67% of the stock is currently owned by institutional investors and hedge funds.

iShares Gold Trust Price Performance

IAU opened at $76.78 on Friday. The firm has a market capitalization of $63.27 billion, a price-to-earnings ratio of 5.53 and a beta of 0.09. The company’s 50 day simple moving average is $74.84 and its two-hundred day simple moving average is $67.38. iShares Gold Trust has a 1-year low of $48.83 and a 1-year high of $82.55.

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.