Alpine Bank Wealth Management Buys New Position in iShares Gold Trust (NYSEARCA:IAU)

Alpine Bank Wealth Management purchased a new position in shares of iShares Gold Trust (NYSEARCA:IAU) in the 1st quarter, HoldingsChannel reports. The firm purchased 3,461 shares of the exchange traded fund’s stock, valued at approximately $204,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its stake in shares of iShares Gold Trust by 2,943.8% in the 4th 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 during the period. Wells Fargo & Company MN increased its holdings in iShares Gold Trust by 10.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,288,826 shares of the exchange traded fund’s stock worth $608,420,000 after purchasing an additional 1,183,962 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in iShares Gold Trust by 200.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,778,652 shares of the exchange traded fund’s stock valued at $533,651,000 after buying an additional 7,194,721 shares during the period. LPL Financial LLC boosted its holdings in shares of iShares Gold Trust by 35.4% during the 4th quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock worth $427,293,000 after buying an additional 2,257,590 shares in the last quarter. Finally, WealthNavi Inc. grew its position in shares of iShares Gold Trust by 2.1% during the 1st quarter. WealthNavi Inc. now owns 6,049,600 shares of the exchange traded fund’s stock worth $356,684,000 after buying an additional 125,599 shares during the period. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 0.3%

NYSEARCA:IAU opened at $62.85 on Thursday. iShares Gold Trust has a twelve month low of $43.35 and a twelve month high of $65.00. The company has a fifty day moving average of $62.70 and a 200-day moving average of $56.94. The firm has a market capitalization of $46.90 billion, a P/E ratio of 5.53 and a beta of 0.12.

About iShares Gold Trust

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.