Wells Financial Advisors INC Invests $99,000 in iShares Gold Trust (NYSEARCA:IAU)

Wells Financial Advisors INC purchased a new stake in shares of iShares Gold Trust (NYSEARCA:IAU) during the 4th quarter, Holdings Channel reports. The fund purchased 2,000 shares of the exchange traded fund’s stock, valued at approximately $99,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of iShares Gold Trust by 5.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,136,328 shares of the exchange traded fund’s stock worth $56,260,000 after buying an additional 62,195 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in iShares Gold Trust during the 4th quarter worth $442,000. Sanchez Wealth Management Group acquired a new position in iShares Gold Trust in the 4th quarter worth about $228,000. JPMorgan Chase & Co. raised its position in iShares Gold Trust by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 11,217,258 shares of the exchange traded fund’s stock valued at $557,498,000 after purchasing an additional 981,362 shares during the last quarter. Finally, Independent Family Office LLC boosted its stake in shares of iShares Gold Trust by 4.1% during the third quarter. Independent Family Office LLC now owns 425,857 shares of the exchange traded fund’s stock valued at $21,155,000 after purchasing an additional 16,827 shares in the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.

iShares Gold Trust Price Performance

iShares Gold Trust stock opened at $56.99 on Wednesday. The business has a 50 day moving average of $54.36 and a 200-day moving average of $51.54. iShares Gold Trust has a 1 year low of $41.08 and a 1 year high of $57.59. The company has a market capitalization of $40.83 billion, a P/E ratio of -34.13 and a beta of 0.20.

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.