Broadway Wealth Solutions Inc. Makes New $327,000 Investment in iShares Gold Trust (NYSEARCA:IAU)

Broadway Wealth Solutions Inc. bought a new stake in shares of iShares Gold Trust (NYSEARCA:IAU) in the 4th quarter, HoldingsChannel.com reports. The fund bought 6,612 shares of the exchange traded fund’s stock, valued at approximately $327,000.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of iShares Gold Trust by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,136,328 shares of the exchange traded fund’s stock worth $56,260,000 after acquiring an additional 62,195 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in iShares Gold Trust in the 4th quarter worth about $442,000. Sanchez Wealth Management Group acquired a new stake in iShares Gold Trust in the fourth quarter valued at approximately $228,000. JPMorgan Chase & Co. increased its position in shares of 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 valued at $557,498,000 after buying an additional 981,362 shares in the last quarter. Finally, Independent Family Office LLC raised its stake in shares of iShares Gold Trust by 4.1% during the 3rd quarter. Independent Family Office LLC now owns 425,857 shares of the exchange traded fund’s stock worth $21,155,000 after buying an additional 16,827 shares during the period. 59.67% of the stock is currently owned by institutional investors and hedge funds.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $57.68 on Friday. The stock has a market capitalization of $41.32 billion, a PE ratio of -34.13 and a beta of 0.20. iShares Gold Trust has a fifty-two week low of $41.65 and a fifty-two week high of $58.12. The company has a fifty day moving average of $54.61 and a two-hundred day moving average of $51.62.

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.