iShares Gold Trust $IAU Stake Lessened by Biltmore Family Office LLC

Biltmore Family Office LLC reduced its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 702,089 shares of the exchange traded fund’s stock after selling 17,431 shares during the quarter. iShares Gold Trust accounts for approximately 7.4% of Biltmore Family Office LLC’s investment portfolio, making the stock its 2nd biggest holding. Biltmore Family Office LLC owned approximately 0.09% of iShares Gold Trust worth $43,782,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Keener Financial Planning LLC purchased a new position in iShares Gold Trust during the second quarter valued at $25,000. Private Wealth Management Group LLC lifted its holdings in iShares Gold Trust by 290.9% during the second quarter. Private Wealth Management Group LLC now owns 430 shares of the exchange traded fund’s stock valued at $27,000 after purchasing an additional 320 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in iShares Gold Trust during the first quarter valued at $27,000. BankPlus Trust Department purchased a new position in shares of iShares Gold Trust in the first quarter worth about $27,000. Finally, Garrison Bradford & Associates Inc. purchased a new position in shares of iShares Gold Trust in the first quarter worth about $29,000. 59.67% of the stock is owned by hedge funds and other institutional investors.

iShares Gold Trust Trading Down 0.7%

NYSEARCA:IAU opened at $74.59 on Wednesday. The company’s 50-day moving average price is $71.27 and its 200-day moving average price is $65.75. The company has a market cap of $61.75 billion, a P/E ratio of 5.53 and a beta of 0.09. iShares Gold Trust has a twelve month low of $48.29 and a twelve month high of $82.55.

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.