Madden Advisory Services Inc. reduced its stake in iShares Gold Trust (NYSEARCA:IAU – Free Report) by 0.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 95,786 shares of the exchange traded fund’s stock after selling 750 shares during the period. iShares Gold Trust comprises approximately 2.5% of Madden Advisory Services Inc.’s investment portfolio, making the stock its 10th largest position. Madden Advisory Services Inc.’s holdings in iShares Gold Trust were worth $5,973,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in iShares Gold Trust in the 1st quarter valued at about $27,000. BankPlus Trust Department purchased a new stake in iShares Gold Trust during the first quarter worth about $27,000. Dunhill Financial LLC increased its stake in iShares Gold Trust by 86.6% during the first quarter. Dunhill Financial LLC now owns 472 shares of the exchange traded fund’s stock worth $28,000 after purchasing an additional 219 shares during the period. Garrison Bradford & Associates Inc. purchased a new stake in iShares Gold Trust during the first quarter worth about $29,000. Finally, North Capital Inc. purchased a new stake in iShares Gold Trust during the first quarter worth about $34,000. 59.67% of the stock is currently owned by hedge funds and other institutional investors.
iShares Gold Trust Price Performance
Shares of NYSEARCA:IAU opened at $75.01 on Wednesday. The firm has a market capitalization of $61.56 billion, a PE ratio of 5.53 and a beta of 0.15. The firm’s 50-day moving average is $66.93 and its two-hundred day moving average is $63.63. iShares Gold Trust has a 1 year low of $48.29 and a 1 year high of $75.20.
iShares Gold Trust Company 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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