New Harbor Financial Group LLC raised its position in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 72.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,039 shares of the exchange traded fund’s stock after buying an additional 98,418 shares during the period. iShares Gold Trust comprises about 2.7% of New Harbor Financial Group LLC’s holdings, making the stock its 17th largest holding. New Harbor Financial Group LLC’s holdings in iShares Gold Trust were worth $18,278,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Merkkuri Wealth Advisors LLC purchased a new stake in shares of iShares Gold Trust in the 1st quarter valued at $26,000. Fairway Wealth LLC boosted its holdings in iShares Gold Trust by 525.0% during the 1st quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after acquiring an additional 252 shares during the period. Harborfront Financial Group LLC purchased a new position in iShares Gold Trust during the 2nd quarter valued at about $28,000. Dunhill Financial LLC boosted its holdings in iShares Gold Trust by 72.9% during the 2nd quarter. Dunhill Financial LLC now owns 377 shares of the exchange traded fund’s stock valued at $28,000 after acquiring an additional 159 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new position in iShares Gold Trust in the 1st quarter valued at about $35,000. 59.67% of the stock is owned by institutional investors and hedge funds.
iShares Gold Trust Stock Down 0.7%
NYSEARCA IAU traded down $0.51 during trading on Friday, hitting $75.15. The stock had a trading volume of 4,172,091 shares, compared to its average volume of 9,072,928. The company has a market capitalization of $59.26 billion, a PE ratio of 5.53 and a beta of 0.18. The firm has a 50 day moving average price of $80.90 and a 200 day moving average price of $81.74. iShares Gold Trust has a twelve month low of $73.74 and a twelve month high of $104.40.
Key Stories Impacting iShares Gold Trust
Here are the key news stories impacting iShares Gold Trust this week:
- Positive Sentiment: Gold received some support from falling Treasury yields, which can reduce the opportunity cost of holding a non-yielding asset. Gold also rebounded from the $4,000 area, suggesting that level is attracting buyers. Gold Defends $4,000 After Bounce as Fed Signals Take Center Stage
- Positive Sentiment: Inflation expectations increased in the University of Michigan’s October survey, potentially supporting longer-term demand for gold as an inflation hedge. However, consumer sentiment was broadly steady and above expectations. Gold price trades near $4,000/oz after final Consumer Sentiment holds steady
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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