Potomac Fund Management Inc. ADV Acquires New Shares in iShares Gold Trust (NYSEARCA:IAU)

Potomac Fund Management Inc. ADV bought a new position in shares of iShares Gold Trust (NYSEARCA:IAU) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,655 shares of the exchange traded fund’s stock, valued at approximately $577,000.

Other hedge funds have also recently bought and sold shares of the company. Tucker Asset Management LLC lifted its stake in shares of iShares Gold Trust by 106.9% in the fourth quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock worth $25,000 after buying an additional 263 shares during the last quarter. Compass Financial Services Inc bought a new position in iShares Gold Trust in the 4th quarter worth $27,000. Wintrust Investments LLC acquired a new position in iShares Gold Trust during the 4th quarter worth $29,000. Financial Life Planners acquired a new position in iShares Gold Trust during the 4th quarter worth $33,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in iShares Gold Trust during the fourth quarter valued at about $40,000. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust Stock Performance

iShares Gold Trust stock opened at $58.86 on Wednesday. iShares Gold Trust has a 52 week low of $42.57 and a 52 week high of $59.15. The firm has a market capitalization of $42.53 billion, a PE ratio of -35.73 and a beta of 0.17. The business’s 50-day simple moving average is $55.05 and its 200-day simple moving average is $51.90.

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.