Montecito Bank & Trust Has $885,000 Stock Holdings in iShares Gold Trust (NYSEARCA:IAU)
Montecito Bank & Trust lifted its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 49.3% during the second quarter, Holdings Channel reports. The firm owned 65,544 shares of the exchange traded fund’s stock after purchasing an additional 21,653 shares during the quarter. Montecito Bank & Trust’s holdings in iShares Gold Trust were worth $885,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Meridian Wealth Management LLC acquired a new stake in shares of iShares Gold Trust during the first quarter worth $32,000. Investors Research Corp acquired a new position in iShares Gold Trust during the first quarter valued at $35,000. Financial Management Professionals Inc. raised its position in iShares Gold Trust by 89.1% during the first quarter. Financial Management Professionals Inc. now owns 3,396 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 1,600 shares during the period. Nalls Sherbakoff Group LLC acquired a new position in iShares Gold Trust during the fourth quarter valued at $52,000. Finally, Ellevest Inc. raised its position in iShares Gold Trust by 100.6% during the first quarter. Ellevest Inc. now owns 4,564 shares of the exchange traded fund’s stock valued at $57,000 after buying an additional 2,289 shares during the period.
NYSEARCA:IAU traded down $0.07 during trading hours on Tuesday, hitting $13.56. 16,252,094 shares of the company’s stock traded hands, compared to its average volume of 15,668,131. iShares Gold Trust has a twelve month low of $11.25 and a twelve month high of $13.86. The stock has a fifty day moving average price of $13.27.
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.
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