Marks Group Wealth Management Inc Trims Position in iShares Gold Trust (NYSEARCA:IAU)

Marks Group Wealth Management Inc lessened its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 50.2% during the fourth quarter, HoldingsChannel reports. The firm owned 36,523 shares of the exchange traded fund’s stock after selling 36,844 shares during the quarter. Marks Group Wealth Management Inc’s holdings in iShares Gold Trust were worth $1,425,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. PFG Advisors raised its position in shares of iShares Gold Trust by 3.7% in the 4th quarter. PFG Advisors now owns 20,968 shares of the exchange traded fund’s stock worth $818,000 after buying an additional 754 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of iShares Gold Trust by 203.7% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 19,533 shares of the exchange traded fund’s stock worth $762,000 after buying an additional 13,101 shares during the period. Hsbc Holdings PLC raised its position in shares of iShares Gold Trust by 6.7% in the 3rd quarter. Hsbc Holdings PLC now owns 99,513 shares of the exchange traded fund’s stock worth $3,482,000 after buying an additional 6,263 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of iShares Gold Trust in the 4th quarter worth $544,000. Finally, Geneos Wealth Management Inc. raised its position in shares of iShares Gold Trust by 10.2% in the 4th quarter. Geneos Wealth Management Inc. now owns 3,050 shares of the exchange traded fund’s stock worth $119,000 after buying an additional 282 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Trading Down 0.0 %

Shares of IAU traded down $0.01 during trading hours on Tuesday, hitting $44.03. The stock had a trading volume of 7,269,220 shares, compared to its average volume of 6,848,726. iShares Gold Trust has a 12-month low of $34.35 and a 12-month high of $45.98. The company’s fifty day simple moving average is $41.29 and its 200 day simple moving average is $39.10.

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.