Plancorp LLC raised its position in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 69.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,749 shares of the exchange traded fund’s stock after purchasing an additional 14,232 shares during the quarter. Plancorp LLC’s holdings in iShares Gold Trust were worth $2,534,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of iShares Gold Trust by 1.3% in the 2nd quarter. BlackRock Inc. now owns 8,732,671 shares of the exchange traded fund’s stock valued at $659,404,000 after buying an additional 109,246 shares during the period. Proficio Capital Partners LLC grew its position in shares of iShares Gold Trust by 5.7% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,191,169 shares of the exchange traded fund’s stock valued at $165,455,000 after acquiring an additional 118,328 shares during the period. Bank of New York Mellon Corp grew its position in shares of iShares Gold Trust by 8.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,840,038 shares of the exchange traded fund’s stock valued at $138,941,000 after acquiring an additional 149,558 shares during the period. AlTi Global Inc. grew its position in shares of iShares Gold Trust by 5.4% during the 2nd quarter. AlTi Global Inc. now owns 1,651,446 shares of the exchange traded fund’s stock valued at $124,701,000 after acquiring an additional 84,457 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of iShares Gold Trust by 2.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,295,573 shares of the exchange traded fund’s stock valued at $114,218,000 after purchasing an additional 34,076 shares in the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.
iShares Gold Trust Stock Performance
Shares of iShares Gold Trust stock traded down $0.62 on Friday, hitting $76.38. The company’s stock had a trading volume of 3,572,438 shares, compared to its average volume of 8,875,913. The company has a market capitalization of $60.23 billion, a price-to-earnings ratio of 5.53 and a beta of 0.20. iShares Gold Trust has a 1 year low of $72.71 and a 1 year high of $104.40. The firm has a fifty day moving average price of $78.93 and a 200-day moving average price of $84.33.
Key Stories Impacting iShares Gold Trust
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
About iShares Gold Trust
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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