Kovack Advisors Inc. Decreases Stake in iShares Gold Trust (NYSEARCA:IAU)

Kovack Advisors Inc. lowered its holdings in iShares Gold Trust (NYSEARCA:IAU) by 22.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,456 shares of the exchange traded fund’s stock after selling 2,182 shares during the quarter. Kovack Advisors Inc.’s holdings in iShares Gold Trust were worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Compass Financial Services Inc purchased a new stake in iShares Gold Trust during the fourth quarter valued at $27,000. Archer Investment Corp increased its position in iShares Gold Trust by 813.8% during the third quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock valued at $30,000 after acquiring an additional 529 shares during the last quarter. Financial Life Planners purchased a new stake in iShares Gold Trust during the fourth quarter valued at $33,000. Newbridge Financial Services Group Inc. purchased a new stake in iShares Gold Trust during the fourth quarter valued at $40,000. Finally, Valued Wealth Advisors LLC increased its position in iShares Gold Trust by 65.7% during the fourth quarter. Valued Wealth Advisors LLC now owns 840 shares of the exchange traded fund’s stock valued at $42,000 after acquiring an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $53.87 on Friday. The stock has a 50-day simple moving average of $52.27 and a two-hundred day simple moving average of $50.47. iShares Gold Trust has a 52-week low of $38.65 and a 52-week high of $55.70. The firm has a market capitalization of $36.56 billion, a PE ratio of -33.32 and a beta of 0.20.

About iShares Gold Trust

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.