Betterment LLC Trims Stock Position in iShares Gold Trust $IAU

Betterment LLC trimmed its holdings in iShares Gold Trust (NYSEARCA:IAU) by 15.7% during the first quarter, Holdings Channel reports. The institutional investor owned 9,290 shares of the exchange traded fund’s stock after selling 1,731 shares during the period. Betterment LLC’s holdings in iShares Gold Trust were worth $548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IAU. Envestnet Asset Management Inc. lifted its holdings in shares of iShares Gold Trust by 63.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 17,575,718 shares of the exchange traded fund’s stock worth $1,036,264,000 after acquiring an additional 6,797,066 shares during the period. LPL Financial LLC grew its holdings in iShares Gold Trust by 29.6% in the first quarter. LPL Financial LLC now owns 11,182,842 shares of the exchange traded fund’s stock valued at $659,340,000 after purchasing an additional 2,552,405 shares during the period. Erste Asset Management GmbH acquired a new position in iShares Gold Trust during the first quarter worth approximately $68,629,000. Charles Schwab Investment Management Inc. increased its position in iShares Gold Trust by 1,357.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 981,332 shares of the exchange traded fund’s stock worth $57,859,000 after purchasing an additional 913,987 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in iShares Gold Trust by 101.4% during the first quarter. Park Avenue Securities LLC now owns 1,374,967 shares of the exchange traded fund’s stock worth $81,068,000 after purchasing an additional 692,113 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 0.9%

Shares of IAU opened at $65.10 on Tuesday. iShares Gold Trust has a fifty-two week low of $46.72 and a fifty-two week high of $65.11. The company’s fifty day moving average is $63.19 and its two-hundred day moving average is $61.02. The firm has a market cap of $49.88 billion, a PE ratio of 5.53 and a beta of 0.15.

iShares Gold Trust 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.