Envestnet Portfolio Solutions Inc. Purchases 1,091,440 Shares of iShares Gold Trust (NYSEARCA:IAU)

Envestnet Portfolio Solutions Inc. increased its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 4,039.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,118,460 shares of the exchange traded fund’s stock after purchasing an additional 1,091,440 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in iShares Gold Trust were worth $55,375,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IAU. Compass Financial Services Inc acquired a new position in shares of iShares Gold Trust during the fourth quarter worth approximately $27,000. Archer Investment Corp increased its stake in iShares Gold Trust by 813.8% during the 3rd quarter. Archer Investment Corp now owns 594 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 529 shares in the last quarter. Wintrust Investments LLC bought a new stake in iShares Gold Trust during the 4th quarter valued at $29,000. Financial Life Planners acquired a new position in iShares Gold Trust during the fourth quarter worth $33,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of iShares Gold Trust in the fourth quarter valued at $40,000. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

Shares of NYSEARCA IAU opened at $56.29 on Friday. iShares Gold Trust has a 1 year low of $40.64 and a 1 year high of $56.53. The stock has a market capitalization of $40.33 billion, a P/E ratio of -34.13 and a beta of 0.20. The company has a 50-day moving average price of $53.40 and a 200-day moving average price of $51.03.

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.