Essex Financial Services Inc. Boosts Stock Position in iShares Gold Trust (NYSEARCA:IAU)

Essex Financial Services Inc. boosted its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 7.0% in the fourth quarter, Holdings Channel reports. The fund owned 15,512 shares of the exchange traded fund’s stock after purchasing an additional 1,021 shares during the period. Essex Financial Services Inc.’s holdings in iShares Gold Trust were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of iShares Gold Trust during the third quarter worth about $95,801,000. JPMorgan Chase & Co. lifted its position in iShares Gold Trust by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock valued at $557,498,000 after purchasing an additional 981,362 shares during the period. Park Avenue Securities LLC boosted its holdings in iShares Gold Trust by 6,538.7% in the 4th quarter. Park Avenue Securities LLC now owns 682,854 shares of the exchange traded fund’s stock valued at $33,808,000 after purchasing an additional 672,568 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in iShares Gold Trust by 10,279.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 672,812 shares of the exchange traded fund’s stock worth $33,128,000 after purchasing an additional 666,330 shares during the period. Finally, Parker Investment Management LLC purchased a new position in shares of iShares Gold Trust during the 3rd quarter worth approximately $26,050,000. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Price Performance

IAU opened at $54.75 on Thursday. iShares Gold Trust has a 12 month low of $37.53 and a 12 month high of $54.94. The business has a 50 day simple moving average of $50.98 and a 200-day simple moving average of $49.66.

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.