Wells Fargo & Company MN Purchases 1,183,962 Shares of iShares Gold Trust (NYSEARCA:IAU)

Wells Fargo & Company MN increased its position in iShares Gold Trust (NYSEARCA:IAU) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,288,826 shares of the exchange traded fund’s stock after buying an additional 1,183,962 shares during the period. Wells Fargo & Company MN’s holdings in iShares Gold Trust were worth $608,420,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tucker Asset Management LLC increased its stake in shares of iShares Gold Trust by 106.9% during the 4th quarter. Tucker Asset Management LLC now owns 509 shares of the exchange traded fund’s stock worth $25,000 after purchasing an additional 263 shares during the last quarter. Compass Financial Services Inc bought a new stake in iShares Gold Trust in the fourth quarter worth $27,000. Wintrust Investments LLC acquired a new position in iShares Gold Trust during the fourth quarter worth $29,000. Financial Life Planners bought a new position in iShares Gold Trust during the fourth quarter valued at about $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of iShares Gold Trust in the fourth quarter worth about $40,000. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

IAU opened at $57.26 on Friday. The company has a market cap of $41.37 billion, a PE ratio of -35.73 and a beta of 0.17. The stock has a 50-day moving average of $55.42 and a 200-day moving average of $52.05. iShares Gold Trust has a 52-week low of $43.05 and a 52-week high of $59.15.

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.