Investment firm Sachetta LLC significantly increased its stake in the iShares Gold Trust (NYSEARCA:IAU) during the third quarter of 2023. According to HoldingsChannel.com, the company raised its holdings by an impressive 178.5%, acquiring an additional 27,801 shares to reach a total of 43,379 shares. This investment now accounts for approximately 1.2% of Sachetta LLC’s portfolio, ranking it as the firm’s 15th largest position.
As of the latest filing with the Securities and Exchange Commission, Sachetta LLC’s investment in iShares Gold Trust is valued at $3,157,000. This notable increase in holdings reflects a broader trend among institutional investors and hedge funds adjusting their positions in the gold market.
Several other financial entities have also made moves regarding iShares Gold Trust. For instance, MTM Investment Management LLC initiated a new position in the trust during the second quarter, investing approximately $25,000. Similarly, Keener Financial Planning LLC entered the market with a stake valued at about $25,000.
Private Wealth Management Group LLC exhibited a more aggressive strategy, boosting its holdings in iShares Gold Trust by 290.9% in the same quarter. Following this acquisition, the group now possesses 430 shares valued at $27,000. Key Financial Inc. also made a new investment in the second quarter, worth around $28,000.
Another significant player, SOA Wealth Advisors LLC, increased its holdings by 230.0% during the third quarter, now owning 462 shares valued at $34,000 after purchasing an additional 322 shares.
Overall, institutional investors and hedge funds currently hold 59.67% of iShares Gold Trust’s stock, indicating strong confidence in the trust’s future performance.
On Friday, iShares Gold Trust opened trading at $84.89. The trust boasts a market capitalization of $71.29 billion and has a price-to-earnings ratio of 5.53. With a beta of 0.09, it is considered a relatively stable investment. The trust has experienced price fluctuations over the past year, with a low of $50.14 and a high of $85.68.
The iShares Gold Trust serves as a vehicle for investors to gain exposure to gold. Each share represents a fractional interest in the net assets of the trust, which primarily consists of gold held by a custodian. The trust is sponsored by iShares Delaware Trust Sponsor LLC, a subsidiary of BlackRock, Inc., while The Bank of New York Mellon acts as the trustee, and JPMorgan Chase Bank N.A. serves as the custodian.
For those interested in tracking hedge fund activities related to iShares Gold Trust, HoldingsChannel.com provides comprehensive updates on the latest 13F filings and insider trades.
