Sandy Cove Advisors LLC Has $421,000 Stake in iShares Gold Trust $IAU

Sandy Cove Advisors LLC raised its holdings in iShares Gold Trust (NYSEARCA:IAU – Free Report) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,757 shares of the exchange traded fund’s stock after acquiring an additional 222 shares during the period. Sandy Cove Advisors LLC’s holdings in iShares Gold Trust were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IAU. Envestnet Asset Management Inc. grew its stake in iShares Gold Trust by 63.1% in the first quarter. Envestnet Asset Management Inc. now owns 17,575,718 shares of the exchange traded fund’s stock valued at $1,036,264,000 after acquiring an additional 6,797,066 shares during the period. LPL Financial LLC boosted its position in shares of iShares Gold Trust by 29.6% during the first quarter. LPL Financial LLC now owns 11,182,842 shares of the exchange traded fund’s stock worth $659,340,000 after buying an additional 2,552,405 shares during the period. Erste Asset Management GmbH acquired a new position in shares of iShares Gold Trust during the first quarter worth about $68,629,000. Charles Schwab Investment Management Inc. boosted its position in shares of iShares Gold Trust by 1,357.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 981,332 shares of the exchange traded fund’s stock worth $57,859,000 after buying an additional 913,987 shares during the period. Finally, Park Avenue Securities LLC boosted its position in shares of iShares Gold Trust by 101.4% during the first quarter. Park Avenue Securities LLC now owns 1,374,967 shares of the exchange traded fund’s stock worth $81,068,000 after buying an additional 692,113 shares during the period. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust Price Performance

IAU stock opened at $69.38 on Tuesday. The stock has a market capitalization of $53.16 billion, a P/E ratio of 5.53 and a beta of 0.15. The business has a 50-day moving average of $64.26 and a 200-day moving average of $61.94. iShares Gold Trust has a fifty-two week low of $48.11 and a fifty-two week high of $69.45.

About iShares Gold Trust

(Free Report)

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.

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