My Legacy Advisors LLC Makes New Investment in iShares Gold Trust (NYSEARCA:IAU)

My Legacy Advisors LLC purchased a new position in iShares Gold Trust (NYSEARCA:IAU) in the 1st quarter, Holdings Channel.com reports. The fund purchased 13,358 shares of the exchange traded fund’s stock, valued at approximately $788,000.

Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake 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 acquiring an additional 63,382,112 shares during the last quarter. Wells Fargo & Company MN raised its stake 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 valued at $608,420,000 after acquiring an additional 1,183,962 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of iShares Gold Trust by 200.7% during 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 acquiring an additional 7,194,721 shares during the last quarter. LPL Financial LLC raised its stake in shares of iShares Gold Trust by 35.4% during 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 acquiring an additional 2,257,590 shares during the last quarter. Finally, WealthNavi Inc. raised its stake in iShares Gold Trust by 2.1% in the first 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 in the last quarter. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Stock Performance

iShares Gold Trust stock opened at $62.77 on Wednesday. The stock’s 50 day simple moving average is $61.68 and its two-hundred day simple moving average is $55.94. The stock has a market cap of $46.20 billion, a price-to-earnings ratio of -38.57 and a beta of 0.12. iShares Gold Trust has a fifty-two week low of $43.35 and a fifty-two week high of $64.98.

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.