iShares Gold Trust (NYSEARCA:IAU) is Forza Wealth Management LLC’s Largest Position

Forza Wealth Management LLC lifted its stake in iShares Gold Trust (NYSEARCA:IAU) by 7.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 227,991 shares of the exchange traded fund’s stock after acquiring an additional 15,151 shares during the quarter. iShares Gold Trust comprises approximately 6.0% of Forza Wealth Management LLC’s portfolio, making the stock its largest position. Forza Wealth Management LLC’s holdings in iShares Gold Trust were worth $13,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of iShares Gold Trust in the fourth quarter valued at $1,864,000. Proficio Capital Partners LLC boosted its position in iShares Gold Trust by 4.1% in the 4th quarter. Proficio Capital Partners LLC now owns 2,241,711 shares of the exchange traded fund’s stock valued at $110,987,000 after buying an additional 88,620 shares during the last quarter. Independent Advisor Alliance boosted its holdings in iShares Gold Trust by 20.7% in the fourth quarter. Independent Advisor Alliance now owns 17,303 shares of the exchange traded fund’s stock valued at $857,000 after purchasing an additional 2,968 shares during the last quarter. Citizens Financial Group Inc. RI boosted its holdings in iShares Gold Trust by 12.7% in the fourth quarter. Citizens Financial Group Inc. RI now owns 25,112 shares of the exchange traded fund’s stock valued at $1,243,000 after purchasing an additional 2,834 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in iShares Gold Trust by 4.6% in the fourth quarter. King Luther Capital Management Corp now owns 22,288 shares of the exchange traded fund’s stock valued at $1,103,000 after purchasing an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

Shares of IAU opened at $62.52 on Thursday. The company has a market capitalization of $47.10 billion, a P/E ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a one year low of $44.46 and a one year high of $65.00. The stock has a 50-day moving average price of $62.64 and a 200 day moving average price of $57.81.

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.