RHL Group LLC grew its position in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) by 88,359.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,884 shares of the exchange traded fund’s stock after purchasing an additional 23,857 shares during the period. iShares Gold Trust accounts for about 1.3% of RHL Group LLC’s investment portfolio, making the stock its 17th largest position. RHL Group LLC’s holdings in iShares Gold Trust were worth $1,865,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of IAU. Retirement Planning Group LLC grew its stake in iShares Gold Trust by 0.7% in the 3rd 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 period. Euro Pacific Asset Management LLC raised its holdings in iShares Gold Trust by 3.9% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 3,504 shares of the exchange traded fund’s stock valued at $293,000 after acquiring an additional 131 shares during the last quarter. Physician Wealth Advisors Inc. raised its holdings in iShares Gold Trust by 4.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 3,724 shares of the exchange traded fund’s stock valued at $291,000 after acquiring an additional 142 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in iShares Gold Trust by 3.8% in the 3rd quarter. Revolve Wealth Partners LLC now owns 3,953 shares of the exchange traded fund’s stock valued at $309,000 after acquiring an additional 143 shares during the last quarter. Finally, Retirement Wealth Solutions LLC lifted its stake in shares of 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 worth $465,000 after purchasing an additional 145 shares during the period. 59.67% of the stock is owned by institutional investors and hedge funds.
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 Price Performance
Shares of NYSEARCA:IAU opened at $76.38 on Monday. The company has a market cap of $60.23 billion, a P/E ratio of 5.53 and a beta of 0.20. iShares Gold Trust has a 52 week low of $72.71 and a 52 week high of $104.40. The business has a fifty day simple moving average of $78.93 and a 200-day simple moving average of $84.33.
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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