DAVENPORT & Co LLC Buys 11,561 Shares of iShares Gold Trust $IAU

DAVENPORT & Co LLC increased its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 77.4% in the second quarter, Holdings Channel.com reports. The fund owned 26,491 shares of the exchange traded fund’s stock after purchasing an additional 11,561 shares during the period. DAVENPORT & Co LLC’s holdings in iShares Gold Trust were worth $1,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Marks Group Wealth Management Inc boosted its position in shares of iShares Gold Trust by 5.2% during the second quarter. Marks Group Wealth Management Inc now owns 27,096 shares of the exchange traded fund’s stock worth $1,690,000 after acquiring an additional 1,331 shares during the last quarter. Merit Financial Group LLC raised its stake in iShares Gold Trust by 51.6% during the second quarter. Merit Financial Group LLC now owns 350,876 shares of the exchange traded fund’s stock valued at $21,881,000 after purchasing an additional 119,379 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in iShares Gold Trust by 41.2% during the second quarter. Beacon Financial Advisory LLC now owns 10,288 shares of the exchange traded fund’s stock valued at $642,000 after purchasing an additional 3,000 shares in the last quarter. Simplicity Wealth LLC raised its stake in iShares Gold Trust by 36.1% during the second quarter. Simplicity Wealth LLC now owns 76,868 shares of the exchange traded fund’s stock valued at $4,793,000 after purchasing an additional 20,391 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in iShares Gold Trust by 20.4% during the second quarter. Wealthcare Advisory Partners LLC now owns 29,836 shares of the exchange traded fund’s stock valued at $1,861,000 after purchasing an additional 5,053 shares in the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Down 1.8%

iShares Gold Trust stock opened at $74.83 on Friday. The company has a market cap of $61.74 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15. The firm’s fifty day moving average is $67.48 and its 200 day moving average is $63.84. iShares Gold Trust has a 52-week low of $48.29 and a 52-week high of $76.49.

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.