PNC Financial Services Group Inc. Has $48.27 Million Holdings in iShares Gold Trust (NYSEARCA:IAU)

PNC Financial Services Group Inc. lifted its holdings in iShares Gold Trust (NYSEARCA:IAU) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 975,030 shares of the exchange traded fund’s stock after purchasing an additional 24,640 shares during the period. PNC Financial Services Group Inc.’s holdings in iShares Gold Trust were worth $48,274,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in IAU. Proficio Capital Partners LLC increased its stake in shares of iShares Gold Trust by 2,943.8% in the fourth quarter. Proficio Capital Partners LLC now owns 65,535,203 shares of the exchange traded fund’s stock worth $3,244,648,000 after purchasing an additional 63,382,112 shares during the period. Quadrature Capital Ltd bought a new position in shares of iShares Gold Trust in the third quarter worth about $95,801,000. Truist Financial Corp increased its stake in shares of iShares Gold Trust by 56.8% in the fourth quarter. Truist Financial Corp now owns 4,160,293 shares of the exchange traded fund’s stock worth $205,976,000 after purchasing an additional 1,507,442 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 worth $557,498,000 after purchasing an additional 981,362 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of iShares Gold Trust by 6,538.7% in the fourth quarter. Park Avenue Securities LLC now owns 682,854 shares of the exchange traded fund’s stock worth $33,808,000 after purchasing an additional 672,568 shares during the period. 59.67% of the stock is currently owned by institutional investors.

iShares Gold Trust Stock Up 0.1 %

Shares of IAU opened at $54.91 on Monday. iShares Gold Trust has a 12-month low of $40.63 and a 12-month high of $55.70. The firm has a market capitalization of $37.26 billion, a price-to-earnings ratio of -33.32 and a beta of 0.20. The stock’s 50-day moving average price is $52.82 and its 200 day moving average price is $50.77.

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.