Elm Partners Management LLC Invests $269,000 in iShares Gold Trust $IAU

Elm Partners Management LLC bought a new position in iShares Gold Trust (NYSEARCA:IAU) during the second quarter, Holdings Channel reports. The fund bought 4,314 shares of the exchange traded fund’s stock, valued at approximately $269,000.

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in iShares Gold Trust by 63.1% in 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 purchasing an additional 6,797,066 shares in the last quarter. LPL Financial LLC raised its holdings in iShares Gold Trust by 29.6% in the 1st 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 last quarter. WealthNavi Inc. raised its holdings in iShares Gold Trust by 8.6% in the 2nd quarter. WealthNavi Inc. now owns 6,571,130 shares of the exchange traded fund’s stock worth $409,776,000 after acquiring an additional 521,530 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in iShares Gold Trust by 10.5% during the 1st quarter. Ameriprise Financial Inc. now owns 6,467,599 shares of the exchange traded fund’s stock valued at $381,929,000 after acquiring an additional 616,559 shares during the period. Finally, Truist Financial Corp lifted its stake in iShares Gold Trust by 14.4% during the 2nd quarter. Truist Financial Corp now owns 5,490,435 shares of the exchange traded fund’s stock valued at $342,384,000 after acquiring an additional 692,844 shares during the period. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

IAU opened at $75.39 on Friday. The stock has a market capitalization of $62.27 billion, a P/E ratio of 5.53 and a beta of 0.09. The company’s 50-day simple moving average is $71.99 and its two-hundred day simple moving average is $66.05. iShares Gold Trust has a 52-week low of $48.29 and a 52-week high of $82.55.

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.