Hamilton Wealth LLC trimmed its holdings in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 9.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,393 shares of the exchange traded fund’s stock after selling 26,671 shares during the period. iShares Gold Trust comprises 4.2% of Hamilton Wealth LLC’s investment portfolio, making the stock its 8th biggest holding. Hamilton Wealth LLC’s holdings in iShares Gold Trust were worth $21,810,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Steelhead Wealth Management LLC acquired a new position in shares of iShares Gold Trust during the 1st quarter worth $212,000. J. R. Prunier Capital Management LLC lifted its stake in shares of iShares Gold Trust by 0.8% in the first quarter. J. R. Prunier Capital Management LLC now owns 19,505 shares of the exchange traded fund’s stock valued at $1,720,000 after purchasing an additional 150 shares during the period. Curry Webb Wealth Management LLC acquired a new stake in shares of iShares Gold Trust in the first quarter valued at about $427,000. FAS Wealth Partners Inc. purchased a new stake in iShares Gold Trust during the first quarter worth about $207,000. Finally, Contango Wealth Management LLC boosted its holdings in iShares Gold Trust by 136.0% during the first quarter. Contango Wealth Management LLC now owns 18,787 shares of the exchange traded fund’s stock worth $1,656,000 after buying an additional 10,826 shares in the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.
iShares Gold Trust Stock Performance
Shares of IAU opened at $76.17 on Monday. The firm’s 50-day moving average is $78.68 and its two-hundred day moving average is $86.56. iShares Gold Trust has a twelve month low of $61.99 and a twelve month high of $104.40. The firm has a market capitalization of $62.91 billion, a P/E ratio of 5.53 and a beta of 0.18.
Key Stories Impacting iShares Gold Trust
- Positive Sentiment: Strong central-bank purchases in the second quarter, along with resilient Asian demand, continue to provide a long-term fundamental tailwind for gold and IAU. Gold and silver price forecast and World Gold Council report
- Positive Sentiment: Analysts increasingly view gold near $4,000 as an attractive value area, suggesting support for IAU if prices hold above that level. Gold has value at $4,000 as investors look beyond Fed hawkishness
- Neutral Sentiment: Gold remains range-bound, roughly between $4,000 and $4,200, as investors await clearer signals on interest rates and Middle East developments. The Fed’s rate hold and softer inflation data offered some support, but did not establish a new trend. Gold weekly price analysis
- Negative Sentiment: Long-term Treasury yields reached levels last seen in 2007, increasing the opportunity cost of holding gold. Better-than-expected U.S. consumer sentiment and easing one-year inflation expectations also reduced immediate demand for the metal as an inflation hedge. Gold pulls back as Treasury yields test new highs
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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