American Trust Makes New $1.80 Million Investment in iShares Gold Trust (NYSEARCA:IAU)

American Trust purchased a new stake in iShares Gold Trust (NYSEARCA:IAU) during the 4th quarter, Holdings Channel.com reports. The firm purchased 36,348 shares of the exchange traded fund’s stock, valued at approximately $1,800,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC grew its holdings 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 worth $3,244,648,000 after buying an additional 63,382,112 shares in the last quarter. Wells Fargo & Company MN boosted its position in iShares Gold Trust by 10.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,288,826 shares of the exchange traded fund’s stock worth $608,420,000 after acquiring an additional 1,183,962 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $557,498,000 after acquiring an additional 981,362 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of iShares Gold Trust by 200.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 10,778,652 shares of the exchange traded fund’s stock worth $533,651,000 after acquiring an additional 7,194,721 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of iShares Gold Trust by 35.4% in the fourth quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock valued at $427,293,000 after purchasing an additional 2,257,590 shares during the last quarter. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust Stock Up 2.2%

Shares of IAU stock opened at $63.38 on Friday. iShares Gold Trust has a 12 month low of $43.24 and a 12 month high of $64.98. The company’s fifty day simple moving average is $60.46 and its 200-day simple moving average is $54.84. The firm has a market cap of $47.48 billion, a PE ratio of -37.79 and a beta of 0.13.

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.