PNC Financial Services Group Inc. Increases Stake in iShares Gold Trust $IAU

PNC Financial Services Group Inc. raised its position in iShares Gold Trust (NYSEARCA:IAU) by 6.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,129,299 shares of the exchange traded fund’s stock after acquiring an additional 72,687 shares during the period. PNC Financial Services Group Inc. owned approximately 0.15% of iShares Gold Trust worth $70,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Enterprises LLC raised its holdings in iShares Gold Trust by 4.6% during the second quarter. Diversified Enterprises LLC now owns 3,683 shares of the exchange traded fund’s stock worth $230,000 after purchasing an additional 163 shares in the last quarter. Red Mountain Financial LLC increased its position in iShares Gold Trust by 0.4% during the 2nd quarter. Red Mountain Financial LLC now owns 46,314 shares of the exchange traded fund’s stock worth $2,888,000 after purchasing an additional 165 shares during the period. New Hampshire Trust raised its stake in shares of iShares Gold Trust by 4.2% during the 2nd quarter. New Hampshire Trust now owns 4,286 shares of the exchange traded fund’s stock worth $267,000 after buying an additional 171 shares in the last quarter. Whittier Trust Co. raised its stake in shares of iShares Gold Trust by 0.3% during the 2nd quarter. Whittier Trust Co. now owns 60,987 shares of the exchange traded fund’s stock worth $3,803,000 after buying an additional 177 shares in the last quarter. Finally, Confluence Wealth Services Inc. raised its stake in shares of iShares Gold Trust by 0.4% during the 2nd quarter. Confluence Wealth Services Inc. now owns 43,721 shares of the exchange traded fund’s stock worth $2,726,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

iShares Gold Trust stock opened at $78.41 on Friday. iShares Gold Trust has a 1-year low of $48.29 and a 1-year high of $82.55. The company has a market cap of $64.62 billion, a PE ratio of 5.53 and a beta of 0.09. The stock’s 50 day moving average price is $74.01 and its 200 day moving average price is $66.87.

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.