Summit X LLC Buys New Stake in iShares Gold Trust (NYSEARCA:IAU)

Summit X LLC bought a new stake in iShares Gold Trust (NYSEARCA:IAU) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 18,707 shares of the exchange traded fund’s stock, valued at approximately $926,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IAU. New England Private Wealth Advisors LLC grew its position in iShares Gold Trust by 8.4% in the 4th quarter. New England Private Wealth Advisors LLC now owns 32,255 shares of the exchange traded fund’s stock worth $1,597,000 after purchasing an additional 2,500 shares during the last quarter. Moors & Cabot Inc. grew its position in iShares Gold Trust by 30.5% in the 4th quarter. Moors & Cabot Inc. now owns 26,936 shares of the exchange traded fund’s stock worth $1,334,000 after purchasing an additional 6,295 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in iShares Gold Trust in the 4th quarter worth $9,097,000. Endowment Wealth Management Inc. grew its position in iShares Gold Trust by 3.8% in the 4th quarter. Endowment Wealth Management Inc. now owns 9,330 shares of the exchange traded fund’s stock worth $462,000 after purchasing an additional 339 shares during the last quarter. Finally, Cushing Capital Partners LLC acquired a new stake in iShares Gold Trust in the 4th quarter worth $2,287,000. 59.67% of the stock is currently owned by institutional investors and hedge funds.

iShares Gold Trust Price Performance

NYSEARCA IAU opened at $55.07 on Wednesday. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of -33.32 and a beta of 0.20. The company’s fifty day moving average is $53.04 and its two-hundred day moving average is $50.88. iShares Gold Trust has a 52-week low of $40.64 and a 52-week high of $55.70.

About iShares Gold Trust

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.