Red Mountain Financial LLC Boosts Stock Position in iShares Gold Trust $IAU

Red Mountain Financial LLC lifted its position in iShares Gold Trust (NYSEARCA:IAU) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,314 shares of the exchange traded fund’s stock after purchasing an additional 165 shares during the quarter. iShares Gold Trust accounts for about 3.7% of Red Mountain Financial LLC’s holdings, making the stock its 11th largest holding. Red Mountain Financial LLC’s holdings in iShares Gold Trust were worth $2,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of iShares Gold Trust in the 1st quarter worth about $27,000. BankPlus Trust Department purchased a new position in shares of iShares Gold Trust in the 1st quarter worth about $27,000. Dunhill Financial LLC boosted its holdings in shares of iShares Gold Trust by 86.6% in the 1st quarter. Dunhill Financial LLC now owns 472 shares of the exchange traded fund’s stock worth $28,000 after purchasing an additional 219 shares in the last quarter. Garrison Bradford & Associates Inc. purchased a new stake in iShares Gold Trust during the 1st quarter valued at about $29,000. Finally, North Capital Inc. purchased a new stake in iShares Gold Trust during the 1st quarter valued at about $34,000. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Price Performance

Shares of IAU stock opened at $72.65 on Friday. The stock has a market capitalization of $59.35 billion, a PE ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a 1-year low of $48.29 and a 1-year high of $73.43. The business has a 50-day moving average of $66.23 and a 200 day moving average of $63.24.

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.