COFG Advisors LLC acquired a new stake in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 8,149 shares of the exchange traded fund’s stock, valued at approximately $661,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sage Investment Advisers LLC purchased a new stake in shares of iShares Gold Trust during the 4th quarter valued at $6,317,000. Gill Capital Partners LLC bought a new position in shares of iShares Gold Trust during the 4th quarter valued at $207,000. Swisher Financial Concepts Inc. grew its holdings in shares of iShares Gold Trust by 7.7% during the 4th quarter. Swisher Financial Concepts Inc. now owns 14,068 shares of the exchange traded fund’s stock valued at $1,142,000 after purchasing an additional 1,009 shares during the last quarter. SCS Capital Management LLC grew its holdings in shares of iShares Gold Trust by 217.4% during the 4th quarter. SCS Capital Management LLC now owns 27,159 shares of the exchange traded fund’s stock valued at $2,204,000 after purchasing an additional 18,601 shares during the last quarter. Finally, Florida Financial Advisors LLC grew its holdings in shares of iShares Gold Trust by 42.0% during the 4th quarter. Florida Financial Advisors LLC now owns 10,191 shares of the exchange traded fund’s stock valued at $827,000 after purchasing an additional 3,012 shares during the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.
iShares Gold Trust Stock Performance
IAU stock opened at $84.27 on Tuesday. iShares Gold Trust has a 52 week low of $61.37 and a 52 week high of $104.40. The firm’s fifty day moving average is $87.07 and its 200 day moving average is $87.43. The firm has a market cap of $71.74 billion, a P/E ratio of 5.53 and a beta of 0.16.
More iShares Gold Trust News
- Negative Sentiment: Spot gold slipped after the U.S. manufacturing PMI rose to 54 in May, reinforcing the view that the economy remains resilient and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
- Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar weighed on precious metals, making gold less attractive to investors in the near term. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats Amid Rising Treasury Yields
- Negative Sentiment: Reports that Iran-related geopolitical tensions were easing intermittently and that crude oil was jumping shifted some demand away from gold’s safe-haven trade. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
- Neutral Sentiment: Some commentary remains constructive on gold’s longer-term outlook because inflation, debt, and policy uncertainty could still support demand over time. Fed trapped between inflation and debt crisis, and gold wins either way – Sprott’s McIntyre
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. The sponsor of the Trust is iShares Delaware Trust Sponsor LLC (the Sponsor), which is an indirect subsidiary of BlackRock, Inc The trustee of the Trust is The Bank of New York Mellon (the Trustee) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the Custodian).
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