Kayne Anderson Rudnick Investment Management LLC Boosts Position in iShares Gold Trust (NYSEARCA:IAU)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in iShares Gold Trust (NYSEARCA:IAU) by 10.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,437 shares of the exchange traded fund’s stock after purchasing an additional 1,800 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in iShares Gold Trust were worth $909,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in iShares Gold Trust by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,136,328 shares of the exchange traded fund’s stock worth $56,260,000 after acquiring an additional 62,195 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of iShares Gold Trust during the fourth quarter worth about $442,000. Sanchez Wealth Management Group purchased a new stake in shares of iShares Gold Trust in the 4th quarter valued at about $228,000. JPMorgan Chase & Co. lifted its holdings in shares of iShares Gold Trust by 9.6% in the 3rd 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 last quarter. Finally, Silverleafe Capital Partners LLC boosted its position in shares of iShares Gold Trust by 0.4% in the 4th quarter. Silverleafe Capital Partners LLC now owns 188,431 shares of the exchange traded fund’s stock valued at $9,329,000 after purchasing an additional 689 shares during the period. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Stock Down 1.4 %

IAU opened at $63.66 on Wednesday. iShares Gold Trust has a 52 week low of $43.05 and a 52 week high of $64.98. The business’s 50 day moving average is $57.31 and its two-hundred day moving average is $53.08. The firm has a market cap of $46.77 billion, a price-to-earnings ratio of -37.96 and a beta of 0.17.

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.