M3 Wealth Management LLC purchased a new position in iShares Gold Trust (NYSEARCA:IAU – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,310 shares of the exchange traded fund’s stock, valued at approximately $2,541,000. iShares Gold Trust accounts for about 2.0% of M3 Wealth Management LLC’s investment portfolio, making the stock its 12th biggest holding.
Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of iShares Gold Trust by 47.7% during the third quarter. Envestnet Asset Management Inc. now owns 20,520,705 shares of the exchange traded fund’s stock worth $1,493,292,000 after purchasing an additional 6,623,876 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in iShares Gold Trust in the 3rd quarter valued at about $193,639,000. JPMorgan Chase & Co. lifted its stake in iShares Gold Trust by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,165,231 shares of the exchange traded fund’s stock valued at $958,034,000 after buying an additional 2,245,617 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of iShares Gold Trust by 381.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock valued at $205,744,000 after acquiring an additional 2,008,288 shares during the last quarter. Finally, Mizuho Bank Ltd. acquired a new position in shares of iShares Gold Trust during the third quarter valued at approximately $120,798,000. Institutional investors and hedge funds own 59.67% of the company’s stock.
Trending Headlines about iShares Gold Trust
Here are the key news stories impacting iShares Gold Trust this week:
- Neutral Sentiment: Gold is consolidating in a tight range, with some analysts saying the market is coiling for a volatility-driven breakout once a clearer direction emerges. Gold (XAU/USD) Price Forecast: Compression Signals Breakout Setup Ahead
- Neutral Sentiment: Demand for bullion remains strong underneath the surface, with the Royal Mint reporting record gold and silver bullion sales earlier in the year. Royal Mint sees record gold, silver bullion sales between January and March
- Neutral Sentiment: Some commentary noted that gold is still holding support near $4,500 an ounce, but investor conviction has faded as inflation stays elevated and recession concerns rise. Gold prices testing support at $4,500 as U.S. consumer confidence falls slight to 93.1
- Neutral Sentiment: Gold and silver saw choppy trading as investors waited for clearer signals on the Iran/U.S. situation and the broader risk backdrop. Gold Price Analysis – Gold continues to See Noisy Trading
- Negative Sentiment: Latest market reports said spot gold and silver were lower as a stronger dollar and renewed Middle East tension pressured bullion, even with equities near record highs. Metals dip as S&P, Nasdaq hit records on Iran deal hopes – Kitco PM Report
- Negative Sentiment: Precious metals also faced pressure from expectations that inflation and interest rates may stay elevated, which can weigh on gold’s appeal. Gold and silver prices under pressure from rising inflation and rate expectations, new Indian import tariffs – Heraeus
- Negative Sentiment: Several updates noted that gold slipped as traders weighed U.S.-Iran developments and reduced the conflict-driven safe-haven bid. Gold Edges Lower as Traders Weigh U.S.-Iran Deal’s Developments
iShares Gold Trust Price Performance
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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