Spinnaker Trust Grows Stake in iShares Gold Trust (NYSEARCA:IAU)

Spinnaker Trust lifted its position in iShares Gold Trust (NYSEARCA:IAU) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 414,871 shares of the exchange traded fund’s stock after purchasing an additional 14,649 shares during the period. iShares Gold Trust accounts for approximately 1.1% of Spinnaker Trust’s investment portfolio, making the stock its 19th largest holding. Spinnaker Trust’s holdings in iShares Gold Trust were worth $16,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of IAU. JPMorgan Chase & Co. boosted its stake in shares of iShares Gold Trust by 58.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,294,050 shares of the exchange traded fund’s stock worth $360,189,000 after buying an additional 3,815,686 shares during the last quarter. Packer & Co Ltd purchased a new position in iShares Gold Trust during the third quarter valued at $125,443,000. First Command Advisory Services Inc. purchased a new position in iShares Gold Trust during the third quarter valued at $50,473,000. Axxcess Wealth Management LLC lifted its position in iShares Gold Trust by 585.5% during the third quarter. Axxcess Wealth Management LLC now owns 1,107,742 shares of the exchange traded fund’s stock valued at $38,760,000 after purchasing an additional 946,138 shares in the last quarter. Finally, TIAA Trust National Association purchased a new position in iShares Gold Trust during the third quarter valued at $29,403,000. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Price Performance

NYSEARCA IAU traded up $0.15 on Friday, hitting $44.26. 6,147,259 shares of the company traded hands, compared to its average volume of 6,850,799. The business’s 50 day moving average price is $41.78 and its 200-day moving average price is $39.29. iShares Gold Trust has a 52-week low of $34.35 and a 52-week high of $45.98.

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.