Davies Financial Advisors Inc. Purchases 2,379 Shares of iShares Gold Trust (NYSEARCA:IAU)

Davies Financial Advisors Inc. boosted its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 84,754 shares of the exchange traded fund’s stock after buying an additional 2,379 shares during the quarter. iShares Gold Trust comprises approximately 3.7% of Davies Financial Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Davies Financial Advisors Inc.’s holdings in iShares Gold Trust were worth $4,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Private Ocean LLC acquired a new position in shares of iShares Gold Trust in the 1st quarter valued at about $29,000. Global Trust Asset Management LLC raised its stake in iShares Gold Trust by 250.0% during the 2nd quarter. Global Trust Asset Management LLC now owns 700 shares of the exchange traded fund’s stock worth $31,000 after buying an additional 500 shares during the period. 1620 Investment Advisors Inc. acquired a new position in iShares Gold Trust during the 2nd quarter worth approximately $31,000. Opal Wealth Advisors LLC acquired a new position in iShares Gold Trust during the 2nd quarter worth approximately $34,000. Finally, Pacifica Partners Inc. acquired a new position in iShares Gold Trust during the 2nd quarter worth approximately $35,000. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust Stock Up 1.2 %

IAU stock traded up $0.58 during trading on Friday, reaching $50.23. 1,223,021 shares of the stock were exchanged, compared to its average volume of 6,008,009. The firm’s 50 day moving average is $48.00 and its 200 day moving average is $45.60. iShares Gold Trust has a twelve month low of $35.36 and a twelve month high of $50.57.

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.