US Bancorp DE lowered its stake in iShares Gold Trust (NYSEARCA:IAU – Free Report) by 18.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 355,627 shares of the exchange traded fund’s stock after selling 80,393 shares during the period. US Bancorp DE’s holdings in iShares Gold Trust were worth $22,177,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in IAU. Envestnet Asset Management Inc. boosted its holdings in iShares Gold Trust by 63.1% in the first quarter. Envestnet Asset Management Inc. now owns 17,575,718 shares of the exchange traded fund’s stock worth $1,036,264,000 after purchasing an additional 6,797,066 shares during the last quarter. LPL Financial LLC raised its position 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 worth $659,340,000 after acquiring an additional 2,552,405 shares during the period. Erste Asset Management GmbH bought a new position in iShares Gold Trust in the first quarter worth approximately $68,629,000. Charles Schwab Investment Management Inc. raised its position in iShares Gold Trust by 1,357.2% in 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 acquiring an additional 913,987 shares during the period. Finally, Truist Financial Corp raised its position in iShares Gold Trust by 14.4% in the second quarter. Truist Financial Corp now owns 5,490,435 shares of the exchange traded fund’s stock worth $342,384,000 after acquiring an additional 692,844 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.
iShares Gold Trust Trading Up 1.0%
IAU opened at $75.58 on Friday. iShares Gold Trust has a 1-year low of $48.29 and a 1-year high of $76.49. The company has a market capitalization of $62.36 billion, a PE ratio of 5.53 and a beta of 0.15. The firm’s 50 day simple moving average is $67.72 and its two-hundred day simple moving average is $63.97.
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.
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