Towerpoint Wealth LLC Has $3.31 Million Stock Position in iShares Gold Trust $IAU

Towerpoint Wealth LLC cut its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 4.8% in the second quarter, Holdings Channel reports. The firm owned 53,095 shares of the exchange traded fund’s stock after selling 2,650 shares during the quarter. iShares Gold Trust accounts for approximately 1.5% of Towerpoint Wealth LLC’s holdings, making the stock its 18th biggest holding. Towerpoint Wealth LLC’s holdings in iShares Gold Trust were worth $3,311,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC bought a new stake in shares of iShares Gold Trust in the 1st quarter valued at about $27,000. BankPlus Trust Department acquired a new position in iShares Gold Trust during the first quarter valued at approximately $27,000. Dunhill Financial LLC increased its stake in iShares Gold Trust by 86.6% in the first quarter. Dunhill Financial LLC now owns 472 shares of the exchange traded fund’s stock valued at $28,000 after purchasing an additional 219 shares in the last quarter. Garrison Bradford & Associates Inc. bought a new position in shares of iShares Gold Trust during the first quarter worth $29,000. Finally, North Capital Inc. bought a new position in shares of iShares Gold Trust during the first quarter worth $34,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 0.2%

IAU opened at $69.54 on Wednesday. The stock has a market cap of $53.28 billion, a P/E ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a 12 month low of $48.11 and a 12 month high of $69.79. The company has a fifty day simple moving average of $64.41 and a 200 day simple moving average of $61.99.

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.