Anchor Pointe Wealth Management LLC Invests $271,000 in iShares Gold Trust (NYSEARCA:IAU)

Anchor Pointe Wealth Management LLC bought a new stake in iShares Gold Trust (NYSEARCA:IAU) in the fourth quarter, Holdings Channel reports. The institutional investor bought 5,509 shares of the exchange traded fund’s stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also modified their holdings of IAU. Proficio Capital Partners LLC increased its holdings in iShares Gold Trust by 2,943.8% during 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 in the last quarter. Wells Fargo & Company MN grew its holdings in shares of 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 worth $608,420,000 after purchasing an additional 1,183,962 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of iShares Gold Trust by 9.6% in the third 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. Envestnet Asset Management Inc. raised its holdings in shares of 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 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 buying 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 Trading Down 1.7%

IAU opened at $62.31 on Wednesday. The stock has a market capitalization of $46.68 billion, a PE ratio of -37.79 and a beta of 0.13. The firm has a 50-day moving average price of $60.68 and a two-hundred day moving average price of $55.01. iShares Gold Trust has a 1-year low of $43.24 and a 1-year high of $64.98.

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.