Perennial Investment Advisors LLC Buys 17,296 Shares of iShares Gold Trust (NYSEARCA:IAU)

Perennial Investment Advisors LLC raised its stake in iShares Gold Trust (NYSEARCA:IAU) by 178.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,971 shares of the exchange traded fund’s stock after purchasing an additional 17,296 shares during the quarter. Perennial Investment Advisors LLC’s holdings in iShares Gold Trust were worth $1,335,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC grew its position in shares of iShares Gold Trust by 2,943.8% during the fourth quarter. Proficio Capital Partners LLC now owns 65,535,203 shares of the exchange traded fund’s stock valued at $3,244,648,000 after purchasing an additional 63,382,112 shares in the last quarter. Wells Fargo & Company MN boosted its stake in iShares Gold Trust by 10.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,288,826 shares of the exchange traded fund’s stock valued at $608,420,000 after buying an additional 1,183,962 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in iShares Gold Trust by 9.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock valued at $557,498,000 after buying an additional 981,362 shares in the last quarter. LPL Financial LLC increased its stake in iShares Gold Trust by 35.4% in the 4th quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock worth $427,293,000 after acquiring an additional 2,257,590 shares during the last quarter. Finally, WealthNavi Inc. raised its holdings in shares of iShares Gold Trust by 2.4% during the 4th quarter. WealthNavi Inc. now owns 5,924,001 shares of the exchange traded fund’s stock worth $293,297,000 after acquiring an additional 141,211 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

NYSEARCA IAU opened at $57.26 on Friday. The stock has a 50 day moving average price of $55.42 and a 200-day moving average price of $52.05. iShares Gold Trust has a one year low of $43.05 and a one year high of $59.15. The company has a market capitalization of $41.37 billion, a P/E ratio of -35.73 and a beta of 0.17.

iShares Gold Trust Company 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.