Pullen Investment Management LLC Trims Stock Holdings in iShares Gold Trust (NYSEARCA:IAU)

Pullen Investment Management LLC decreased its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,856 shares of the exchange traded fund’s stock after selling 469 shares during the quarter. Pullen Investment Management LLC’s holdings in iShares Gold Trust were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IAU. Proficio Capital Partners LLC lifted its holdings in shares of iShares Gold Trust by 2,943.8% in the fourth quarter. Proficio Capital Partners LLC now owns 65,535,203 shares of the exchange traded fund’s stock worth $3,244,648,000 after buying an additional 63,382,112 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in iShares Gold Trust by 200.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,778,652 shares of the exchange traded fund’s stock valued at $533,651,000 after acquiring an additional 7,194,721 shares in the last quarter. LPL Financial LLC increased its holdings in iShares Gold Trust by 35.4% during the 4th quarter. LPL Financial LLC now owns 8,630,437 shares of the exchange traded fund’s stock worth $427,293,000 after acquiring an additional 2,257,590 shares during the period. Truist Financial Corp increased its holdings 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 acquiring an additional 1,507,442 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in iShares Gold Trust by 10.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,288,826 shares of the exchange traded fund’s stock worth $608,420,000 after purchasing an additional 1,183,962 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

Shares of NYSEARCA:IAU opened at $64.74 on Friday. The firm has a fifty day moving average price of $62.12 and a two-hundred day moving average price of $56.19. The company has a market cap of $47.65 billion, a price-to-earnings ratio of -38.57 and a beta of 0.12. iShares Gold Trust has a one year low of $43.35 and a one year high of $65.00.

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.