Prudential Financial Inc. lifted its holdings in iShares Gold Trust (NYSEARCA:IAU) by 508.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 487,000 shares of the exchange traded fund’s stock after acquiring an additional 407,000 shares during the period. Prudential Financial Inc.’s holdings in iShares Gold Trust were worth $6,575,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meridian Wealth Management LLC bought a new position in iShares Gold Trust during the first quarter valued at approximately $32,000. Destination Wealth Management boosted its stake in iShares Gold Trust by 90.4% during the second quarter. Destination Wealth Management now owns 2,393 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 1,136 shares during the last quarter. Parallel Advisors LLC boosted its stake in iShares Gold Trust by 127.9% during the second quarter. Parallel Advisors LLC now owns 3,877 shares of the exchange traded fund’s stock valued at $52,000 after buying an additional 2,176 shares during the last quarter. Arcus Capital Partners LLC bought a new position in iShares Gold Trust during the second quarter valued at approximately $59,000. Finally, Westside Investment Management Inc. bought a new position in iShares Gold Trust during the second quarter valued at approximately $81,000.
iShares Gold Trust stock traded up $0.05 during midday trading on Thursday, reaching $14.36. 707,275 shares of the stock traded hands, compared to its average volume of 17,778,514. The stock’s fifty day moving average is $14.27 and its 200-day moving average is $13.07. iShares Gold Trust has a 12 month low of $11.33 and a 12 month high of $14.90.
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.
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