iShares Gold Trust $IAU is Forbes J M & Co. LLP’s 2nd Largest Position

Forbes J M & Co. LLP lessened its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 19.3% in the second quarter, Holdings Channel reports. The fund owned 1,167,641 shares of the exchange traded fund’s stock after selling 279,759 shares during the quarter. iShares Gold Trust comprises 6.7% of Forbes J M & Co. LLP’s investment portfolio, making the stock its 2nd biggest holding. Forbes J M & Co. LLP’s holdings in iShares Gold Trust were worth $72,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IAU. Smallwood Wealth Investment Management LLC purchased a new stake in iShares Gold Trust in the first quarter worth about $27,000. BankPlus Trust Department purchased a new stake in iShares Gold Trust in the first quarter worth about $27,000. Dunhill Financial LLC increased its position in iShares Gold Trust by 86.6% in the first quarter. Dunhill Financial LLC now owns 472 shares of the exchange traded fund’s stock worth $28,000 after buying an additional 219 shares in the last quarter. Garrison Bradford & Associates Inc. purchased a new stake in iShares Gold Trust in the first quarter worth about $29,000. Finally, North Capital Inc. purchased a new stake in iShares Gold Trust in the first quarter worth about $34,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 0.8%

Shares of IAU opened at $72.77 on Wednesday. The business has a 50-day simple moving average of $65.87 and a two-hundred day simple moving average of $63.06. The stock has a market cap of $55.75 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a 52 week low of $48.29 and a 52 week high of $72.79.

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.