Apollon Wealth Management LLC Buys 55,602 Shares of iShares Gold Trust (NYSEARCA:IAU)

Apollon Wealth Management LLC boosted its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 53.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,695 shares of the exchange traded fund’s stock after purchasing an additional 55,602 shares during the quarter. Apollon Wealth Management LLC’s holdings in iShares Gold Trust were worth $9,416,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of iShares Gold Trust by 1.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,940,089 shares of the exchange traded fund’s stock valued at $1,057,748,000 after acquiring an additional 339,286 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of iShares Gold Trust by 63.1% in the first quarter. Envestnet Asset Management Inc. now owns 17,575,718 shares of the exchange traded fund’s stock valued at $1,036,264,000 after acquiring an additional 6,797,066 shares during the period. Wells Fargo & Company MN boosted its position in shares of iShares Gold Trust by 10.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,288,826 shares of the exchange traded fund’s stock valued at $608,420,000 after acquiring an additional 1,183,962 shares during the period. LPL Financial LLC boosted its position in shares of iShares Gold Trust by 35.4% in the fourth quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock valued at $427,293,000 after acquiring an additional 2,257,590 shares during the period. Finally, WealthNavi Inc. boosted its position in shares of iShares Gold Trust by 2.1% in the first quarter. WealthNavi Inc. now owns 6,049,600 shares of the exchange traded fund’s stock valued at $356,684,000 after acquiring an additional 125,599 shares during the period. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Stock Performance

Shares of iShares Gold Trust stock opened at $63.30 on Monday. The firm has a 50-day moving average of $62.73 and a 200-day moving average of $58.12. The stock has a market cap of $47.73 billion, a PE ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a 52-week low of $44.46 and a 52-week high of $65.00.

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.