Parker Investment Management LLC Has $52.87 Million Stock Position in iShares Gold Trust $IAU

Parker Investment Management LLC trimmed its holdings in iShares Gold Trust (NYSEARCA:IAU) by 6.6% in the fourth quarter, HoldingsChannel reports. The fund owned 651,350 shares of the exchange traded fund’s stock after selling 46,037 shares during the period. iShares Gold Trust makes up 7.5% of Parker Investment Management LLC’s investment portfolio, making the stock its 5th biggest position. Parker Investment Management LLC’s holdings in iShares Gold Trust were worth $52,870,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Portfolio Resources Advisor Group Inc. bought a new stake in iShares Gold Trust during the 4th quarter valued at $1,576,000. Sargent Investment Group LLC bought a new stake in iShares Gold Trust during the 4th quarter valued at $233,000. MML Investors Services LLC raised its holdings in iShares Gold Trust by 4.9% during the 4th quarter. MML Investors Services LLC now owns 2,106,672 shares of the exchange traded fund’s stock valued at $170,999,000 after buying an additional 98,324 shares during the last quarter. Mariner LLC raised its holdings in iShares Gold Trust by 1.4% during the 4th quarter. Mariner LLC now owns 1,449,635 shares of the exchange traded fund’s stock valued at $117,667,000 after buying an additional 20,540 shares during the last quarter. Finally, Marino Management LLC bought a new position in iShares Gold Trust in the 4th quarter worth $12,214,000. 59.67% of the stock is currently owned by institutional investors.

Key Stories Impacting iShares Gold Trust

Here are the key news stories impacting iShares Gold Trust this week:

• Positive Sentiment: Gold and silver recovered into Friday’s close as oil prices fell on U.S.-Iran deal hopes, Treasury yields declined, and equities rallied, which helped improve sentiment toward precious metals. Precious metals firm as crude slides, stocks rise on U.S.-Iran talks – Kitco PM Report
• Positive Sentiment: Several reports said gold is holding important support near the $4,000 area, with analysts watching for signs that a bottom may be forming after the recent selloff. Gold holds key $4,000 support as analysts watch for signs of a bottom
• Neutral Sentiment: Gold is stabilizing after a failed breakdown at support, suggesting buyers are defending the market, but overhead resistance still needs to be cleared before a stronger rebound is confirmed. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
• Neutral Sentiment: Gold gained some support from safe-haven demand tied to Middle East tensions and continued demand from China, but traders still see the move as a technical rebound unless prices reclaim higher resistance levels. Gold and Silver Price Forecast: US-Iran Deal Hopes Lift XAUUSD and XAGUSD
• Negative Sentiment: Multiple reports warned that gold remains in a broader downtrend because stronger inflation data and rising Fed rate expectations can reduce the appeal of non-yielding assets like bullion. Gold (XAUUSD) Price Forecast: Death Cross Threatens Gold Price as Fed Hike Bets Rise

iShares Gold Trust Stock Performance

Shares of NYSEARCA IAU opened at $79.19 on Monday. iShares Gold Trust has a 12 month low of $61.37 and a 12 month high of $104.40. The firm has a market capitalization of $67.42 billion, a PE ratio of 5.53 and a beta of 0.15. The firm has a fifty day simple moving average of $86.36 and a two-hundred day simple moving average of $87.68.

iShares Gold Trust 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).