Robertson Stephens Wealth Management LLC Cuts Stake in iShares Gold Trust $IAU

Robertson Stephens Wealth Management LLC reduced its stake in iShares Gold Trust (NYSEARCA:IAU) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,051 shares of the exchange traded fund’s stock after selling 2,344 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in iShares Gold Trust were worth $2,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in 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 valued at $1,036,264,000 after acquiring an additional 6,797,066 shares during the period. LPL Financial LLC lifted its stake in iShares Gold Trust by 29.6% during the 1st quarter. LPL Financial LLC now owns 11,182,842 shares of the exchange traded fund’s stock valued at $659,340,000 after acquiring an additional 2,552,405 shares during the period. Mainstay Capital Management LLC ADV lifted its stake in iShares Gold Trust by 12,087.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 1,329,143 shares of the exchange traded fund’s stock valued at $82,885,000 after acquiring an additional 1,318,237 shares during the period. Erste Asset Management GmbH bought a new position in iShares Gold Trust during the 1st quarter valued at about $68,629,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in iShares Gold Trust by 1,357.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 981,332 shares of the exchange traded fund’s stock valued at $57,859,000 after acquiring an additional 913,987 shares during the period. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Stock Performance

IAU opened at $75.58 on Friday. The stock has a market capitalization of $62.36 billion, a P/E ratio of 5.53 and a beta of 0.15. The company’s 50-day simple moving average is $67.72 and its two-hundred day simple moving average is $63.97. iShares Gold Trust has a 52-week low of $48.29 and a 52-week high of $76.49.

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.