Absolute Capital Management LLC Has $266,000 Holdings in iShares Gold Trust $IAU

Absolute Capital Management LLC cut its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 27.8% during the 2nd quarter, Holdings Channel reports. The firm owned 4,264 shares of the exchange traded fund’s stock after selling 1,641 shares during the period. Absolute Capital Management LLC’s holdings in iShares Gold Trust were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. MTM Investment Management LLC bought a new position in iShares Gold Trust during the 2nd quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in shares of iShares Gold Trust during the 2nd quarter worth $25,000. Private Wealth Management Group LLC grew its holdings in shares of iShares Gold Trust by 290.9% during the 2nd quarter. Private Wealth Management Group LLC now owns 430 shares of the exchange traded fund’s stock worth $27,000 after purchasing an additional 320 shares in the last quarter. Key Financial Inc bought a new position in shares of iShares Gold Trust in the second quarter worth $28,000. Finally, Garrison Bradford & Associates Inc. acquired a new position in iShares Gold Trust in the first quarter valued at about $29,000. 59.67% of the stock is currently owned by institutional investors.

iShares Gold Trust Stock Up 0.1%

IAU opened at $76.78 on Thursday. The stock has a market capitalization of $63.27 billion, a price-to-earnings ratio of 5.53 and a beta of 0.09. iShares Gold Trust has a twelve month low of $48.83 and a twelve month high of $82.55. The company has a 50-day simple moving average of $74.68 and a 200 day simple moving average of $67.32.

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.