Alliancebernstein L.P. Sells 290,880 Shares of iShares Gold Trust (NYSEARCA:IAU)

Alliancebernstein L.P. trimmed its stake in iShares Gold Trust (NYSEARCA:IAU) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,450,919 shares of the exchange traded fund’s stock after selling 290,880 shares during the period. Alliancebernstein L.P. owned 1.26% of iShares Gold Trust worth $418,405,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IAU. Quadrant Private Wealth Management LLC grew its holdings in iShares Gold Trust by 2.3% in the fourth quarter. Quadrant Private Wealth Management LLC now owns 8,596 shares of the exchange traded fund’s stock worth $426,000 after purchasing an additional 195 shares during the last quarter. TPG Advisors LLC boosted its position in shares of iShares Gold Trust by 0.7% in the 4th quarter. TPG Advisors LLC now owns 28,025 shares of the exchange traded fund’s stock worth $1,388,000 after purchasing an additional 199 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in iShares Gold Trust by 0.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 53,600 shares of the exchange traded fund’s stock worth $2,654,000 after buying an additional 200 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its position in iShares Gold Trust by 1.2% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 17,269 shares of the exchange traded fund’s stock valued at $850,000 after buying an additional 212 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its holdings in iShares Gold Trust by 2.7% in the fourth quarter. SeaCrest Wealth Management LLC now owns 8,287 shares of the exchange traded fund’s stock worth $410,000 after acquiring an additional 215 shares in the last quarter. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Stock Up 1.4 %

IAU opened at $58.96 on Tuesday. The company has a market cap of $42.24 billion, a P/E ratio of -34.13 and a beta of 0.20. The firm’s 50-day moving average price is $54.91 and its 200-day moving average price is $51.82. iShares Gold Trust has a 52-week low of $42.15 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.