Wedbush Securities Inc. Reduces Stock Position in iShares Gold Trust (NYSEARCA:IAU)
Wedbush Securities Inc. lowered its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,279 shares of the exchange traded fund’s stock after selling 5,739 shares during the period. Wedbush Securities Inc.’s holdings in iShares Gold Trust were worth $1,070,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meridian Wealth Management LLC purchased a new stake in iShares Gold Trust during the 1st quarter valued at $32,000. Destination Wealth Management boosted its position in iShares Gold Trust by 90.4% during the 2nd quarter. Destination Wealth Management now owns 2,393 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 1,136 shares during the period. Investors Research Corp purchased a new stake in iShares Gold Trust during the 1st quarter valued at $35,000. Financial Management Professionals Inc. boosted its position in iShares Gold Trust by 89.1% during the 1st 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. Finally, Ellevest Inc. boosted its position in iShares Gold Trust by 100.6% during the 1st 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.
IAU traded up $0.16 during trading on Wednesday, hitting $14.54. 414,398 shares of the stock traded hands, compared to its average volume of 16,768,045. The company has a 50-day moving average price of $13.68. iShares Gold Trust has a 12-month low of $11.25 and a 12-month high of $14.55.
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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