Avalon Capital Management Invests $228,000 in iShares Gold Trust (NYSEARCA:IAU)

Avalon Capital Management purchased a new position in shares of iShares Gold Trust (NYSEARCA:IAU) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,437 shares of the exchange traded fund’s stock, valued at approximately $228,000.

Other hedge funds also recently modified their holdings of the company. ORG Partners LLC acquired a new position in iShares Gold Trust in the fourth quarter valued at $28,000. Private Ocean LLC acquired a new position in iShares Gold Trust in the first quarter valued at $29,000. Pingora Partners LLC acquired a new position in iShares Gold Trust in the fourth quarter valued at $31,000. Signature Resources Capital Management LLC acquired a new position in iShares Gold Trust in the fourth quarter valued at $32,000. Finally, Chilton Capital Management LLC lifted its holdings in iShares Gold Trust by 162.8% in the fourth quarter. Chilton Capital Management LLC now owns 875 shares of the exchange traded fund’s stock valued at $34,000 after buying an additional 542 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

IAU stock traded down $0.03 during midday trading on Friday, hitting $43.93. The stock had a trading volume of 2,696,042 shares, compared to its average volume of 4,214,622. iShares Gold Trust has a 1-year low of $34.35 and a 1-year high of $46.08. The business has a fifty day moving average price of $44.18 and a two-hundred day moving average price of $41.43.

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.