Parker Investment Management LLC Lowers Position in iShares Gold Trust (NYSEARCA:IAU)

Parker Investment Management LLC lessened its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 98.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,856 shares of the exchange traded fund’s stock after selling 518,279 shares during the quarter. iShares Gold Trust comprises 0.0% of Parker Investment Management LLC’s portfolio, making the stock its 29th biggest holding. Parker Investment Management LLC’s holdings in iShares Gold Trust were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position 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 buying an additional 62,195 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of iShares Gold Trust in the fourth quarter worth about $442,000. Sanchez Wealth Management Group acquired a new position in iShares Gold Trust during the fourth quarter valued at $228,000. JPMorgan Chase & Co. boosted its position in iShares Gold Trust by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock worth $557,498,000 after purchasing an additional 981,362 shares in the last quarter. Finally, Independent Family Office LLC increased its holdings 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 valued at $21,155,000 after purchasing an additional 16,827 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

IAU stock opened at $54.43 on Tuesday. The firm’s fifty day moving average is $52.93 and its 200 day moving average is $50.82. iShares Gold Trust has a one year low of $40.64 and a one year high of $55.70. The firm has a market cap of $36.94 billion, a PE ratio of -33.32 and a beta of 0.20.

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.