Schrum Private Wealth Management LLC Reduces Holdings in iShares Gold Trust (NYSEARCA:IAU)

Schrum Private Wealth Management LLC lowered its position in iShares Gold Trust (NYSEARCA:IAU) by 50.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,415 shares of the exchange traded fund’s stock after selling 6,415 shares during the period. Schrum Private Wealth Management LLC’s holdings in iShares Gold Trust were worth $318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IAU. Strategic Financial Concepts LLC purchased a new stake in shares of iShares Gold Trust in the 4th quarter valued at approximately $442,000. Bank of New York Mellon Corp lifted its position in iShares Gold Trust by 5.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,136,328 shares of the exchange traded fund’s stock valued at $56,260,000 after buying an additional 62,195 shares during the last quarter. Sanchez Wealth Management Group acquired a new position in iShares Gold Trust in the fourth quarter valued at about $228,000. JPMorgan Chase & Co. boosted its stake in 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 buying an additional 981,362 shares during the period. Finally, Independent Family Office LLC raised its stake in shares of iShares Gold Trust by 4.1% in the 3rd quarter. Independent Family Office LLC now owns 425,857 shares of the exchange traded fund’s stock valued at $21,155,000 after acquiring an additional 16,827 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 0.2 %

IAU opened at $55.17 on Thursday. iShares Gold Trust has a 52 week low of $40.33 and a 52 week high of $55.70. The business has a fifty day simple moving average of $52.61 and a 200-day simple moving average of $50.64. The firm has a market cap of $37.44 billion, a P/E ratio of -33.32 and a beta of 0.20.

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.