Econ Financial Services Corp Makes New Investment in iShares Gold Trust (NYSEARCA:IAU)

Econ Financial Services Corp acquired a new position in shares of iShares Gold Trust (NYSEARCA:IAU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 45,823 shares of the exchange traded fund’s stock, valued at approximately $1,925,000. iShares Gold Trust accounts for 1.2% of Econ Financial Services Corp’s holdings, making the stock its 25th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Private Ocean LLC acquired a new position in iShares Gold Trust during the first quarter worth about $29,000. ORG Partners LLC acquired a new position in iShares Gold Trust during the 4th quarter worth approximately $28,000. Pingora Partners LLC bought a new position in iShares Gold Trust in the 4th quarter valued at approximately $31,000. YHB Investment Advisors Inc. acquired a new stake in iShares Gold Trust in the first quarter valued at approximately $33,000. Finally, Signature Resources Capital Management LLC acquired a new stake in iShares Gold Trust in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

Shares of IAU traded down $0.05 during mid-day trading on Monday, reaching $45.03. 4,749,627 shares of the company were exchanged, compared to its average volume of 6,081,812. The business has a 50 day simple moving average of $44.57 and a two-hundred day simple moving average of $42.41. iShares Gold Trust has a 52 week low of $34.35 and a 52 week high of $46.93.

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.