Sachetta LLC has significantly increased its investment in the iShares Gold Trust (NYSEARCA:IAU) by acquiring an additional 27,801 shares during the third quarter of 2023. This move boosts the firm’s total holdings to 43,379 shares, representing a remarkable increase of 178.5%. As of its latest filing with the Securities and Exchange Commission, Sachetta LLC’s investment in the fund is now valued at approximately $3.16 million, making it the firm’s 15th largest position.
Several other institutional investors have also adjusted their holdings in iShares Gold Trust. For example, MTM Investment Management LLC entered the market with a new position valued at $25,000 during the second quarter. Similarly, Keener Financial Planning LLC also acquired shares worth around $25,000.
In the same quarter, Private Wealth Management Group LLC increased its holdings by an impressive 290.9%, now owning 430 shares valued at $27,000 after purchasing an additional 320 shares. Key Financial Inc. has also made a new investment in iShares Gold Trust, valued at approximately $28,000.
SOA Wealth Advisors LLC enhanced its stake by 230% in the third quarter, acquiring 322 additional shares and bringing its total to 462 shares worth $34,000. Collectively, institutional investors and hedge funds now own 59.67% of the company’s stock in iShares Gold Trust.
Market Performance and Overview
As of the last trading session, iShares Gold Trust opened at $84.89. The fund boasts a market capitalization of approximately $71.29 billion, a price-to-earnings (PE) ratio of 5.53, and a beta of 0.09. The fifty-day simple moving average stands at $79.88, while the 200-day simple moving average is at $72.06. Over the past year, the stock has ranged from a low of $50.14 to a high of $85.68.
Understanding iShares Gold Trust
The iShares Gold Trust is designed to own gold transferred to the Trust in exchange for shares issued by the Trust. Each share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist solely of gold held by the Trust’s custodian on behalf of the Trust. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC, which is an indirect subsidiary of BlackRock, Inc.. The trustee is The Bank of New York Mellon, with JPMorgan Chase Bank N.A. acting as the custodian.
Investors interested in the iShares Gold Trust can monitor ongoing developments and holdings through resources such as HoldingsChannel.com, which provides insights into the latest 13F filings and insider trades.
