Meridian Wealth Management LLC Buys New Shares in iShares Gold Trust (NYSEARCA:IAU)

Meridian Wealth Management LLC bought a new stake in iShares Gold Trust (NYSEARCA:IAU) in the third quarter, HoldingsChannel reports. The fund bought 11,631 shares of the exchange traded fund’s stock, valued at approximately $578,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Biltmore Family Office LLC lifted its stake in shares of iShares Gold Trust by 0.7% during the 3rd quarter. Biltmore Family Office LLC now owns 727,779 shares of the exchange traded fund’s stock worth $36,171,000 after buying an additional 4,914 shares during the last quarter. Citigroup Inc. raised its stake in iShares Gold Trust by 72.9% in the 3rd quarter. Citigroup Inc. now owns 580,005 shares of the exchange traded fund’s stock worth $28,826,000 after purchasing an additional 244,601 shares in the last quarter. Smithfield Trust Co raised its position in shares of iShares Gold Trust by 254.2% in the 3rd quarter. Smithfield Trust Co now owns 3,276 shares of the exchange traded fund’s stock valued at $164,000 after buying an additional 2,351 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of iShares Gold Trust by 388.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 48,474 shares of the exchange traded fund’s stock valued at $2,409,000 after buying an additional 38,560 shares in the last quarter. Finally, Cypress Capital Group raised its position in shares of iShares Gold Trust by 5.7% in the 3rd quarter. Cypress Capital Group now owns 101,920 shares of the exchange traded fund’s stock valued at $5,065,000 after buying an additional 5,474 shares in the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 1.3 %

Shares of iShares Gold Trust stock opened at $51.08 on Monday. The firm’s 50 day moving average is $50.30 and its 200 day moving average is $47.16. iShares Gold Trust has a 1 year low of $37.40 and a 1 year high of $52.69.

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.