Park Edge Advisors LLC decreased its position in iShares Gold Trust (NYSEARCA:IAU – Free Report) by 17.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,587 shares of the exchange traded fund’s stock after selling 11,752 shares during the quarter. iShares Gold Trust accounts for 1.1% of Park Edge Advisors LLC’s portfolio, making the stock its 13th biggest holding. Park Edge Advisors LLC’s holdings in iShares Gold Trust were worth $4,901,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Godfrey Financial Associates Inc. purchased a new position in shares of iShares Gold Trust in the fourth quarter valued at $25,000. Rossby Financial LCC raised its stake in iShares Gold Trust by 75.7% during the fourth quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in iShares Gold Trust during the fourth quarter valued at $26,000. Gables Capital Management Inc. raised its stake in iShares Gold Trust by 173.1% during the fourth quarter. Gables Capital Management Inc. now owns 355 shares of the exchange traded fund’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new position in iShares Gold Trust during the fourth quarter valued at $29,000. 59.67% of the stock is owned by hedge funds and other institutional investors.
iShares Gold Trust Stock Down 3.0%
IAU stock opened at $74.99 on Thursday. iShares Gold Trust has a 52 week low of $61.37 and a 52 week high of $104.40. The firm has a market capitalization of $63.84 billion, a P/E ratio of 5.53 and a beta of 0.15. The company has a fifty day simple moving average of $84.82 and a two-hundred day simple moving average of $87.68.
Key Stories Impacting iShares Gold Trust
- Negative Sentiment: Gold broke below key technical support levels, including a long-term trendline and Fibonacci support, raising the risk of a deeper correction for bullion and gold-linked ETFs like IAU. Gold (XAU/USD) Price Forecast: Breakdown Signals Risk of Deeper Correction
- Negative Sentiment: Gold slipped below the $4,000 level, with multiple reports citing pressure from a stronger dollar, higher yields, and Fed rate-hike repricing. Gold breaks $4,000 as dollar rally pressures metals
- Negative Sentiment: ING and other banks cut gold forecasts as rising yields and dollar strength continue to hurt precious metals demand. ING Cuts Gold and Silver Forecasts as Rising Yields and Stronger Dollar Weigh on Prices
- Neutral Sentiment: Some analysts argue the pullback may be a normal correction rather than the end of the longer-term gold bull market, suggesting the decline could eventually attract buyers. Gold’s 28% correction is painful, but history suggests the bull market isn’t over
- Neutral Sentiment: China’s gold imports surged to a 26-month high in May, showing strong physical demand that could help support prices over time. China gold imports hit 26-month high in May, up 76% YTD
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. 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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