JPMorgan Chase & Co. Cuts Stake in iShares Gold Trust (NYSEARCA:IAU)

JPMorgan Chase & Co. lessened its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 21.7% during the fourth quarter, HoldingsChannel reports. The firm owned 8,788,184 shares of the exchange traded fund’s stock after selling 2,429,074 shares during the period. JPMorgan Chase & Co.’s holdings in iShares Gold Trust were worth $435,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Proficio Capital Partners LLC lifted its position 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 worth $3,244,648,000 after acquiring an additional 63,382,112 shares in the last quarter. LPL Financial LLC lifted its position 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 worth $427,293,000 after purchasing an additional 2,257,590 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in iShares Gold Trust during the 3rd quarter valued at $95,801,000. Truist Financial Corp increased its stake in iShares Gold Trust by 56.8% during the 4th quarter. Truist Financial Corp now owns 4,160,293 shares of the exchange traded fund’s stock worth $205,976,000 after buying an additional 1,507,442 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in iShares Gold Trust by 4,039.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,118,460 shares of the exchange traded fund’s stock worth $55,375,000 after buying an additional 1,091,440 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $58.13 on Friday. The stock has a market cap of $41.64 billion, a price-to-earnings ratio of -34.13 and a beta of 0.20. iShares Gold Trust has a one year low of $42.15 and a one year high of $58.24. The business’s 50-day simple moving average is $54.75 and its 200 day simple moving average is $51.72.

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.