Quantinno Capital Management LP Increases Position in iShares Gold Trust $IAU

Quantinno Capital Management LP lifted its position in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 53.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,773 shares of the exchange traded fund’s stock after buying an additional 32,075 shares during the quarter. Quantinno Capital Management LP’s holdings in iShares Gold Trust were worth $8,091,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of IAU. Godfrey Financial Associates Inc. purchased a new position in iShares Gold Trust during the fourth quarter worth about $25,000. Monetary Solutions Ltd acquired a new stake in shares of iShares Gold Trust in the fourth quarter worth approximately $26,000. Merkkuri Wealth Advisors LLC acquired a new stake in shares of iShares Gold Trust in the first quarter worth approximately $26,000. Fairway Wealth LLC grew its holdings in iShares Gold Trust by 525.0% in the first quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after purchasing an additional 252 shares during the period. Finally, Rossby Financial LCC grew its holdings in iShares Gold Trust by 75.7% in 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 during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.

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Here are the key news stories impacting iShares Gold Trust this week:

• Positive Sentiment: A larger-than-expected decline in June JOLTS job openings to 7.36 million increased expectations that the U.S. labor market is cooling. This could reduce pressure on the Federal Reserve to keep rates higher, supporting non-yielding gold and, by extension, IAU. Gold price catching a bid as JOLTS job openings drop
• Positive Sentiment: A weaker dollar and falling oil prices have helped gold advance. Lower energy prices may ease inflation concerns and Treasury-rate expectations, while dollar weakness makes gold cheaper for overseas buyers. Lower oil and dollar weakness lift gold
• Positive Sentiment: Longer-term demand remains a favorable backdrop. The Bank of Korea has begun a domestic gold-buying program, adding to broader central-bank demand that has helped gold hold near the $4,000-an-ounce support area. China-related ETF demand is also helping offset higher yields. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Safe-haven demand ahead of the U.S. Nonfarm Payrolls report and continuing geopolitical uncertainty are providing additional support. Analysts also view the $4,000 level as an important long-term floor. Safe-haven demand grows ahead of NFP
• Neutral Sentiment: Gold is holding above its 20-day moving average, but technical resistance around $4,166 and $4,203 could limit near-term gains unless prices break higher. Can gold break above $4,203?
• Negative Sentiment: Higher real yields, elevated long-term Treasury yields, a rebounding dollar and stronger manufacturing data continue to raise the opportunity cost of holding gold. A stronger-than-expected payrolls report could revive expectations for higher rates and pressure IAU. Gold can recover despite higher real yields

iShares Gold Trust Stock Up 0.7%

NYSEARCA:IAU opened at $76.69 on Wednesday. The company has a market cap of $63.34 billion, a P/E ratio of 5.53 and a beta of 0.18. The firm’s 50 day moving average is $78.34 and its two-hundred day moving average is $86.41. iShares Gold Trust has a fifty-two week low of $62.48 and a fifty-two week high of $104.40.

iShares Gold Trust Profile

(Free Report)

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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