iShares Gold Trust (NYSEARCA:IAU) Shares Bought by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. grew its position in iShares Gold Trust (NYSEARCA:IAU) by 70.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,386 shares of the exchange traded fund’s stock after purchasing an additional 4,303 shares during the period. Sovereign Financial Group Inc.’s holdings in iShares Gold Trust were worth $514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of iShares Gold Trust by 0.3% in the third quarter. FMR LLC now owns 23,065,092 shares of the exchange traded fund’s stock worth $1,146,335,000 after buying an additional 60,784 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of iShares Gold Trust by 0.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 18,152,535 shares of the exchange traded fund’s stock worth $902,181,000 after purchasing an additional 142,487 shares during the period. Empower Advisory Group LLC boosted its holdings in shares of iShares Gold Trust by 0.8% during the third quarter. Empower Advisory Group LLC now owns 14,921,731 shares of the exchange traded fund’s stock worth $741,610,000 after purchasing an additional 111,210 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of iShares Gold Trust by 9.6% during the third quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock worth $557,498,000 after purchasing an additional 981,362 shares during the period. Finally, WealthNavi Inc. boosted its holdings in shares of iShares Gold Trust by 4.2% during the third quarter. WealthNavi Inc. now owns 5,782,790 shares of the exchange traded fund’s stock worth $287,405,000 after purchasing an additional 233,999 shares during the period. 59.67% of the stock is currently owned by institutional investors and hedge funds.

iShares Gold Trust Stock Performance

IAU stock opened at $50.91 on Thursday. The firm has a 50 day simple moving average of $49.85 and a 200 day simple moving average of $48.62. iShares Gold Trust has a 52 week low of $37.53 and a 52 week high of $52.69.

iShares Gold Trust Company 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.