M&T Bank Corp Reduces Position in iShares Gold Trust (NYSEARCA:IAU)

M&T Bank Corp trimmed its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 294,730 shares of the exchange traded fund’s stock after selling 49,164 shares during the quarter. M&T Bank Corp’s holdings in iShares Gold Trust were worth $14,592,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Financial Concepts LLC acquired a new position in iShares Gold Trust in the fourth quarter worth about $442,000. Bank of New York Mellon Corp grew its stake in iShares Gold Trust by 5.8% in the fourth 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 purchasing an additional 62,195 shares in the last quarter. Sanchez Wealth Management Group acquired a new position in iShares Gold Trust in the fourth quarter worth about $228,000. JPMorgan Chase & Co. grew its stake in iShares Gold Trust by 9.6% in the third 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 grew its stake in iShares Gold Trust by 4.1% in the third quarter. Independent Family Office LLC now owns 425,857 shares of the exchange traded fund’s stock worth $21,155,000 after purchasing an additional 16,827 shares in the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $55.17 on Thursday. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of -33.32 and a beta of 0.20. iShares Gold Trust has a one year low of $40.33 and a one year high of $55.70. The stock has a 50-day simple moving average of $52.61 and a 200 day simple moving average of $50.64.

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.