Wealthfront Advisers LLC increased its stake in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 44.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,081 shares of the exchange traded fund’s stock after acquiring an additional 20,442 shares during the quarter. Wealthfront Advisers LLC’s holdings in iShares Gold Trust were worth $5,826,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in IAU. Schmidt P J Investment Management Inc. increased its holdings in shares of iShares Gold Trust by 1.1% in the 4th quarter. Schmidt P J Investment Management Inc. now owns 9,362 shares of the exchange traded fund’s stock valued at $760,000 after acquiring an additional 106 shares during the period. Foster Group Inc. increased its stake in shares of iShares Gold Trust by 2.4% during the fourth quarter. Foster Group Inc. now owns 5,126 shares of the exchange traded fund’s stock worth $416,000 after acquiring an additional 120 shares during the period. Haverford Trust Co raised its stake in shares of iShares Gold Trust by 3.4% during the 4th quarter. Haverford Trust Co now owns 3,617 shares of the exchange traded fund’s stock worth $294,000 after buying an additional 120 shares in the last quarter. Evolution Wealth Management Inc. raised its position in iShares Gold Trust by 40.3% in the first quarter. Evolution Wealth Management Inc. now owns 432 shares of the exchange traded fund’s stock worth $38,000 after acquiring an additional 124 shares in the last quarter. Finally, Brooks Moore & Associates Inc. increased its holdings in shares of iShares Gold Trust by 2.1% in the 4th quarter. Brooks Moore & Associates Inc. now owns 6,076 shares of the exchange traded fund’s stock valued at $493,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.
iShares Gold Trust Trading Up 0.9%
IAU stock opened at $75.50 on Friday. iShares Gold Trust has a 12-month low of $61.60 and a 12-month high of $104.40. The company has a market cap of $62.36 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. The firm has a 50 day moving average of $80.69 and a 200-day moving average of $87.01.
Key Stories Impacting iShares Gold Trust
- Neutral Sentiment: Gold is trying to hold the $4,000 level after a sharp pullback, with next week likely to determine whether that area becomes a firm support zone or gives way to more downside. Markets will find out next week how firm $4,000 is as a floor for gold
- Neutral Sentiment: Fresh U.S. data, including better consumer sentiment and stronger housing starts, has eased some recession fears and reduced the immediate safe-haven bid for gold. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
- Negative Sentiment: Technical analysts say bearish momentum is building, with gold breaking trend support and key downside levels now in focus. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
- Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar have been repeatedly cited as headwinds for gold, pressuring prices below the key $4,000 mark. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
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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