Kestra Advisory Services LLC boosted its holdings in iShares Gold Trust (NYSEARCA:IAU – Free Report) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 686,377 shares of the exchange traded fund’s stock after buying an additional 103,315 shares during the period. Kestra Advisory Services LLC owned approximately 0.09% of iShares Gold Trust worth $53,606,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of IAU. Retirement Planning Group LLC grew its stake in shares of iShares Gold Trust by 0.7% in the third quarter. Retirement Planning Group LLC now owns 19,160 shares of the exchange traded fund’s stock worth $1,496,000 after acquiring an additional 130 shares during the last quarter. Euro Pacific Asset Management LLC increased its position in iShares Gold Trust by 3.9% during the third quarter. Euro Pacific Asset Management LLC now owns 3,504 shares of the exchange traded fund’s stock worth $293,000 after acquiring an additional 131 shares during the period. Physician Wealth Advisors Inc. increased its position in iShares Gold Trust by 4.0% during the third quarter. Physician Wealth Advisors Inc. now owns 3,724 shares of the exchange traded fund’s stock worth $291,000 after acquiring an additional 142 shares during the period. Revolve Wealth Partners LLC raised its stake in iShares Gold Trust by 3.8% during the 3rd quarter. Revolve Wealth Partners LLC now owns 3,953 shares of the exchange traded fund’s stock valued at $309,000 after purchasing an additional 143 shares during the last quarter. Finally, Retirement Wealth Solutions LLC raised its stake in iShares Gold Trust by 2.4% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 6,163 shares of the exchange traded fund’s stock valued at $465,000 after purchasing an additional 145 shares during the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.
iShares Gold Trust Stock Down 0.8%
iShares Gold Trust stock traded down $0.62 during mid-day trading on Friday, reaching $76.38. The company had a trading volume of 3,572,438 shares, compared to its average volume of 8,875,913. iShares Gold Trust has a 52 week low of $72.71 and a 52 week high of $104.40. The company has a 50 day moving average of $78.93 and a 200-day moving average of $84.33. The firm has a market cap of $60.23 billion, a price-to-earnings ratio of 5.53 and a beta of 0.20.
More iShares Gold Trust News
Here are the key news stories impacting iShares Gold Trust this week:
- Positive Sentiment: Some investors see the midterm-election outcome and prospective government spending as potentially weakening the U.S. dollar, which could support gold. Central-bank buying and a World Bank outlook for elevated gold prices also offer longer-term support. Dems’ spending plans could weaken the dollar and support gold World Bank sees gold holding above $4,000 through 2028
- Neutral Sentiment: Gold’s breakout may signal that its correction is ending, but a pullback is testing whether former resistance can hold as support. Traders are watching roughly $4,000 as support and $4,200 as resistance; the outcome could set the next direction for IAU. Gold breakout signals potential end to correction
- Negative Sentiment: Stronger-than-expected U.S. payroll growth (165,000 jobs) lifted the dollar and renewed concerns that the Federal Reserve may keep rates higher or raise them in December. Higher real yields increase the opportunity cost of holding non-yielding gold, pressuring bullion and IAU; a break below $4,000 could deepen the decline. Gold faces risk to $4,000 support after strong payrolls
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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