FineMark National Bank & Trust Has $5.49 Million Stake in iShares Gold Trust (NYSEARCA:IAU)

FineMark National Bank & Trust grew its stake in iShares Gold Trust (NYSEARCA:IAU) by 6.1% during the fourth quarter, HoldingsChannel reports. The firm owned 110,791 shares of the exchange traded fund’s stock after buying an additional 6,360 shares during the quarter. FineMark National Bank & Trust’s holdings in iShares Gold Trust were worth $5,485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IAU. Bank of New York Mellon Corp lifted its holdings 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 period. Strategic Financial Concepts LLC acquired a new stake in shares of iShares Gold Trust during the 4th quarter worth approximately $442,000. Sanchez Wealth Management Group bought a new position in iShares Gold Trust during the fourth quarter worth $228,000. JPMorgan Chase & Co. grew its holdings in iShares Gold Trust by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock worth $557,498,000 after purchasing an additional 981,362 shares during the period. Finally, Independent Family Office LLC increased its stake in iShares Gold Trust by 4.1% in the third quarter. Independent Family Office LLC now owns 425,857 shares of the exchange traded fund’s stock valued at $21,155,000 after purchasing an additional 16,827 shares in the last quarter. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Price Performance

IAU stock opened at $56.70 on Tuesday. The company’s 50-day moving average is $54.23 and its 200-day moving average is $51.47. The stock has a market capitalization of $40.62 billion, a PE ratio of -34.13 and a beta of 0.20. iShares Gold Trust has a 1 year low of $41.05 and a 1 year high of $57.59.

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.