Procyon Advisors LLC decreased its holdings in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 91.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,054 shares of the exchange traded fund’s stock after selling 52,944 shares during the quarter. Procyon Advisors LLC’s holdings in iShares Gold Trust were worth $446,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of IAU. CIBC Bancorp USA Inc. purchased a new stake in iShares Gold Trust during the 3rd quarter valued at about $193,639,000. Concurrent Investment Advisors LLC lifted its stake in iShares Gold Trust by 381.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock worth $205,744,000 after purchasing an additional 2,008,288 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of iShares Gold Trust by 35.7% during the 4th quarter. Citigroup Inc. now owns 7,201,313 shares of the exchange traded fund’s stock worth $584,531,000 after purchasing an additional 1,893,594 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of iShares Gold Trust by 18.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,595,990 shares of the exchange traded fund’s stock worth $535,396,000 after purchasing an additional 1,019,135 shares during the last quarter. Finally, Orion Porfolio Solutions LLC grew its position in shares of iShares Gold Trust by 503.7% in the second quarter. Orion Porfolio Solutions LLC now owns 930,318 shares of the exchange traded fund’s stock valued at $58,015,000 after purchasing an additional 776,215 shares in the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.
iShares Gold Trust Stock Performance
NYSEARCA:IAU opened at $76.27 on Wednesday. iShares Gold Trust has a one year low of $61.60 and a one year high of $104.40. The stock has a market cap of $62.99 billion, a PE ratio of 5.53 and a beta of 0.18. The stock has a 50 day moving average price of $81.47 and a 200 day moving average price of $87.22.
Key iShares Gold Trust News
- Positive Sentiment: Gold rallied after U.S. inflation came in softer than expected, helping support bullion and gold-backed products like IAU by lowering real-rate pressure. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
- Positive Sentiment: Analysts said gold’s pullback is likely temporary noise, arguing that gold remains one of the better-performing assets over the past year and that mining stocks remain the standout trade. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
- Positive Sentiment: Multiple market updates pointed to gold finding support near key technical levels, with traders watching for a rebound if the metal can hold support and break resistance. Gold Jumps as Weaker CPI Defends $4,000 Support
- Neutral Sentiment: Some commentary noted that gold remains under pressure from resistance, rising yields, and hawkish Fed expectations, which could keep volatility elevated even after the recent bounce. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns
- Negative Sentiment: Several reports warned that gold had been struggling below recent highs, with bears defending resistance and safe-haven demand weakening at times amid geopolitical and rate-related concerns. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone
iShares Gold Trust Company 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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