Hobbs Group Advisors LLC Sells 3,604 Shares of iShares Gold Trust $IAU

Hobbs Group Advisors LLC trimmed its position in iShares Gold Trust (NYSEARCA:IAU) by 20.3% during the second quarter, HoldingsChannel.com reports. The fund owned 14,178 shares of the exchange traded fund’s stock after selling 3,604 shares during the quarter. Hobbs Group Advisors LLC’s holdings in iShares Gold Trust were worth $884,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Diversified Enterprises LLC increased its stake in iShares Gold Trust by 4.6% in the second quarter. Diversified Enterprises LLC now owns 3,683 shares of the exchange traded fund’s stock valued at $230,000 after acquiring an additional 163 shares during the last quarter. Red Mountain Financial LLC grew its stake in shares of iShares Gold Trust by 0.4% during the second quarter. Red Mountain Financial LLC now owns 46,314 shares of the exchange traded fund’s stock worth $2,888,000 after buying an additional 165 shares during the last quarter. Alpha Cubed Investments LLC grew its stake in shares of iShares Gold Trust by 4.0% during the first quarter. Alpha Cubed Investments LLC now owns 4,325 shares of the exchange traded fund’s stock worth $255,000 after buying an additional 168 shares during the last quarter. Mosaic Family Wealth Partners LLC grew its stake in shares of iShares Gold Trust by 1.5% during the first quarter. Mosaic Family Wealth Partners LLC now owns 11,345 shares of the exchange traded fund’s stock worth $669,000 after buying an additional 173 shares during the last quarter. Finally, Hoey Investments Inc. grew its stake in shares of iShares Gold Trust by 30.4% during the first quarter. Hoey Investments Inc. now owns 750 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 175 shares during the last quarter. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Stock Performance

NYSEARCA IAU opened at $75.58 on Friday. The firm’s fifty day moving average price is $67.72 and its two-hundred day moving average price is $64.02. The stock has a market cap of $62.36 billion, a PE ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a fifty-two week low of $48.29 and a fifty-two week high of $76.49.

iShares Gold Trust Company 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.