Apella Capital bought a $1.28 million stake in the gold-backed iShares ETF IAU during Q2.

Apella Capital LLC acquired a $1.28 million stake in the iShares Gold Trust (IAU) during the second quarter, buying 20,400 shares. Other institutional investors, including Sandy Cove Advisors LLC and Central Bank & Trust Co., also increased their holdings in the ETF, which tracks gold prices and holds physical gold as its underlying asset. IAU's shares rose 53.6% in the fourth quarter, and as of Tuesday, traded near its 52-week high of $69.45, with a market cap of $53.16 billion and a low of $48.11. The ETF is owned by a mix of hedge funds and institutional investors.