Wealth Alliance LLC Increases Position in iShares Gold Trust $IAU

Wealth Alliance LLC raised its holdings in iShares Gold Trust (NYSEARCA:IAUFree Report) by 20.1% during the third quarter, HoldingsChannel.com reports. The firm owned 150,675 shares of the exchange traded fund’s stock after buying an additional 25,217 shares during the period. iShares Gold Trust makes up about 1.1% of Wealth Alliance LLC’s portfolio, making the stock its 16th biggest holding. Wealth Alliance LLC’s holdings in iShares Gold Trust were worth $10,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. grew its holdings in iShares Gold Trust by 47.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 20,520,705 shares of the exchange traded fund’s stock worth $1,493,292,000 after acquiring an additional 6,623,876 shares in the last quarter. Citigroup Inc. raised its stake in shares of iShares Gold Trust by 809.1% in the 2nd quarter. Citigroup Inc. now owns 5,108,818 shares of the exchange traded fund’s stock valued at $318,586,000 after purchasing an additional 4,546,835 shares in the last quarter. JPMorgan Chase & Co. grew its stake in iShares Gold Trust by 67.5% in the second quarter. JPMorgan Chase & Co. now owns 10,919,614 shares of the exchange traded fund’s stock worth $680,947,000 after purchasing an additional 4,398,605 shares in the last quarter. Prudential Financial Inc. increased its holdings in iShares Gold Trust by 2,152.7% in the second quarter. Prudential Financial Inc. now owns 3,494,106 shares of the exchange traded fund’s stock valued at $217,892,000 after buying an additional 3,339,000 shares during the last quarter. Finally, Packer & Co Ltd acquired a new stake in iShares Gold Trust during the third quarter valued at approximately $156,463,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

Key iShares Gold Trust News

Here are the key news stories impacting iShares Gold Trust this week:

iShares Gold Trust Trading Up 1.2%

Shares of IAU opened at $95.21 on Friday. iShares Gold Trust has a 52 week low of $53.44 and a 52 week high of $104.40. The firm has a market cap of $80.39 billion, a price-to-earnings ratio of 5.53 and a beta of 0.09. The stock has a 50 day moving average of $88.34 and a 200-day moving average of $77.92.

About iShares Gold Trust

(Free Report)

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. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the Sponsor), which is an indirect subsidiary of BlackRock, Inc The trustee of the Trust is The Bank of New York Mellon (the Trustee) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the Custodian).

Further Reading

Want to see what other hedge funds are holding IAU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iShares Gold Trust (NYSEARCA:IAUFree Report).

Institutional Ownership by Quarter for iShares Gold Trust (NYSEARCA:IAU)

Receive News & Ratings for iShares Gold Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iShares Gold Trust and related companies with MarketBeat.com's FREE daily email newsletter.