Bank of Montreal Can reduced its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 94.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,501 shares of the exchange traded fund’s stock after selling 2,500,203 shares during the period. Bank of Montreal Can’s holdings in iShares Gold Trust were worth $1,814,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IAU. Morgan Stanley grew its position in iShares Gold Trust by 19.2% in the third quarter. Morgan Stanley now owns 17,674,165 shares of the exchange traded fund’s stock worth $202,016,000 after acquiring an additional 2,845,739 shares in the last quarter. Deutsche Bank AG purchased a new stake in iShares Gold Trust during the fourth quarter valued at about $34,306,000. Elephas Investment Management Ltd purchased a new stake in iShares Gold Trust during the fourth quarter valued at about $31,340,000. Bailard Inc. purchased a new stake in iShares Gold Trust during the fourth quarter valued at about $29,207,000. Finally, Nadler Financial Group Inc. boosted its position in iShares Gold Trust by 2,623.1% during the first quarter. Nadler Financial Group Inc. now owns 1,834,009 shares of the exchange traded fund’s stock valued at $22,705,000 after buying an additional 1,766,659 shares during the period.
NYSEARCA IAU traded down $0.03 during trading on Tuesday, hitting $12.69. 9,094,870 shares of the company’s stock traded hands, compared to its average volume of 14,266,821. iShares Gold Trust has a 12-month low of $11.25 and a 12-month high of $12.91.
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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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