Riverbend Wealth Management LLC Buys New Shares in iShares Gold Trust (NYSEARCA:IAU)

Riverbend Wealth Management LLC bought a new position in shares of iShares Gold Trust (NYSEARCA:IAU) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,284 shares of the exchange traded fund’s stock, valued at approximately $361,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Financial Services Inc acquired a new position in shares of iShares Gold Trust during the 4th quarter worth about $27,000. Archer Investment Corp grew its holdings in iShares Gold Trust by 813.8% during the third quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock worth $30,000 after purchasing an additional 529 shares during the period. Financial Life Planners acquired a new position in iShares Gold Trust during the fourth quarter worth approximately $33,000. Newbridge Financial Services Group Inc. bought a new stake in iShares Gold Trust in the fourth quarter valued at approximately $40,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of iShares Gold Trust by 65.7% in the fourth quarter. Valued Wealth Advisors LLC now owns 840 shares of the exchange traded fund’s stock valued at $42,000 after buying an additional 333 shares during the last quarter. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Price Performance

IAU stock opened at $54.43 on Tuesday. iShares Gold Trust has a one year low of $40.64 and a one year high of $55.70. The stock has a market cap of $36.94 billion, a price-to-earnings ratio of -33.32 and a beta of 0.20. The company has a fifty day moving average price of $52.93 and a two-hundred day moving average price of $50.82.

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.