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

Sovereign Financial Group Inc. trimmed its position in iShares Gold Trust (NYSEARCA:IAU) by 62.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,893 shares of the exchange traded fund’s stock after selling 9,839 shares during the period. Sovereign Financial Group Inc.’s holdings in iShares Gold Trust were worth $230,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brown Advisory Inc. increased its stake in iShares Gold Trust by 46.6% during the 3rd quarter. Brown Advisory Inc. now owns 177,046 shares of the exchange traded fund’s stock worth $6,195,000 after buying an additional 56,286 shares during the period. Astoria Portfolio Advisors LLC. purchased a new position in shares of iShares Gold Trust during the 3rd quarter valued at approximately $202,000. Gradient Investments LLC grew its position in shares of iShares Gold Trust by 1.6% during the third quarter. Gradient Investments LLC now owns 88,812 shares of the exchange traded fund’s stock worth $3,108,000 after buying an additional 1,427 shares in the last quarter. TIAA Trust National Association acquired a new stake in iShares Gold Trust in the third quarter valued at $29,403,000. Finally, Financial Advocates Investment Management grew its holdings in iShares Gold Trust by 4.1% during the 3rd quarter. Financial Advocates Investment Management now owns 43,776 shares of the exchange traded fund’s stock worth $1,532,000 after acquiring an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

Shares of iShares Gold Trust stock traded down $0.11 during trading on Wednesday, reaching $43.65. The company had a trading volume of 6,204,476 shares, compared to its average volume of 6,956,633. iShares Gold Trust has a fifty-two week low of $34.35 and a fifty-two week high of $45.98. The firm’s fifty day moving average is $42.54 and its 200-day moving average is $39.70.

iShares Gold Trust 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.