Drive Wealth Management LLC Makes New $650,000 Investment in iShares Gold Trust $IAU

Drive Wealth Management LLC acquired a new position in shares of iShares Gold Trust (NYSEARCA:IAU) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,431 shares of the exchange traded fund’s stock, valued at approximately $650,000.

A number of other hedge funds have also recently added to or reduced their stakes in IAU. Brighton Jones LLC bought a new stake in iShares Gold Trust during the 4th quarter worth about $1,864,000. Bison Wealth LLC grew its holdings in iShares Gold Trust by 78.5% during the 4th quarter. Bison Wealth LLC now owns 16,778 shares of the exchange traded fund’s stock worth $831,000 after acquiring an additional 7,379 shares during the last quarter. GAMMA Investing LLC grew its holdings in iShares Gold Trust by 17.6% during the 1st quarter. GAMMA Investing LLC now owns 1,635 shares of the exchange traded fund’s stock worth $96,000 after acquiring an additional 245 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in iShares Gold Trust by 17.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 357,429 shares of the exchange traded fund’s stock worth $21,074,000 after acquiring an additional 54,096 shares during the last quarter. Finally, PFG Investments LLC boosted its stake in shares of iShares Gold Trust by 7.8% in the 1st quarter. PFG Investments LLC now owns 27,421 shares of the exchange traded fund’s stock valued at $1,617,000 after purchasing an additional 1,984 shares during the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Trading Down 1.9%

Shares of NYSEARCA IAU opened at $79.63 on Monday. The firm has a market capitalization of $66.22 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 $81.34. The firm’s 50-day moving average is $69.25 and its 200-day moving average is $64.78.

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.