Kovack Advisors Inc. Trims Stake in iShares Gold Trust (NYSEARCA:IAU)

Kovack Advisors Inc. lessened its holdings in iShares Gold Trust (NYSEARCA:IAU) by 7.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,515 shares of the exchange traded fund’s stock after selling 1,696 shares during the period. Kovack Advisors Inc.’s holdings in iShares Gold Trust were worth $862,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its position in shares of iShares Gold Trust by 5.4% during the 3rd quarter. Bank of Nova Scotia now owns 21,481 shares of the exchange traded fund’s stock valued at $742,000 after acquiring an additional 1,091 shares during the last quarter. Glenmede Trust Co. NA raised its stake in iShares Gold Trust by 2.7% in the third quarter. Glenmede Trust Co. NA now owns 27,366 shares of the exchange traded fund’s stock valued at $958,000 after purchasing an additional 713 shares in the last quarter. JPMorgan Chase & Co. lifted its position in iShares Gold Trust by 58.9% during the third quarter. JPMorgan Chase & Co. now owns 10,294,050 shares of the exchange traded fund’s stock valued at $360,189,000 after purchasing an additional 3,815,686 shares during the last quarter. Royal Bank of Canada grew its stake in iShares Gold Trust by 2.9% in the 3rd quarter. Royal Bank of Canada now owns 3,878,147 shares of the exchange traded fund’s stock worth $135,696,000 after buying an additional 110,785 shares in the last quarter. Finally, Townsquare Capital LLC grew its stake in iShares Gold Trust by 9.9% in the 3rd quarter. Townsquare Capital LLC now owns 31,276 shares of the exchange traded fund’s stock worth $1,094,000 after buying an additional 2,828 shares in the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

iShares Gold Trust stock opened at $44.55 on Friday. iShares Gold Trust has a fifty-two week low of $34.35 and a fifty-two week high of $46.08. The firm’s fifty day moving average price is $44.19 and its 200-day moving average price is $41.55.

iShares Gold Trust Company 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.