Cowa LLC Has $3.41 Million Position in iShares Gold Trust $IAU

Cowa LLC reduced its holdings in iShares Gold Trust (NYSEARCA:IAU) by 14.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 42,007 shares of the exchange traded fund’s stock after selling 6,862 shares during the quarter. iShares Gold Trust comprises 1.0% of Cowa LLC’s holdings, making the stock its 25th biggest holding. Cowa LLC’s holdings in iShares Gold Trust were worth $3,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of iShares Gold Trust by 1.5% during the 3rd quarter. Bank of America Corp DE now owns 30,799,504 shares of the exchange traded fund’s stock worth $2,241,280,000 after purchasing an additional 456,140 shares during the last quarter. LPL Financial LLC grew its stake in iShares Gold Trust by 1.5% in the 4th quarter. LPL Financial LLC now owns 13,742,286 shares of the exchange traded fund’s stock valued at $1,115,461,000 after buying an additional 203,528 shares during the last quarter. JPMorgan Chase & Co. grew its stake in iShares Gold Trust by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,165,231 shares of the exchange traded fund’s stock valued at $958,034,000 after buying an additional 2,245,617 shares during the last quarter. UBS Group AG grew its stake in iShares Gold Trust by 6.5% in the 3rd quarter. UBS Group AG now owns 9,148,055 shares of the exchange traded fund’s stock valued at $665,704,000 after buying an additional 561,489 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in iShares Gold Trust by 2.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,616,480 shares of the exchange traded fund’s stock valued at $412,563,000 after buying an additional 148,881 shares during the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.

iShares Gold Trust Stock Performance

Shares of IAU opened at $79.13 on Friday. iShares Gold Trust has a 52 week low of $61.37 and a 52 week high of $104.40. The firm has a market cap of $67.37 billion, a P/E ratio of 5.53 and a beta of 0.15. The firm’s 50-day simple moving average is $86.57 and its 200 day simple moving average is $87.67.

iShares Gold Trust News Roundup

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

• Positive Sentiment: Gold is attempting to rebound after a steep sell-off, with traders watching for a potential bottom near major support. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Rebound After Strong Sell-Off
• Positive Sentiment: Some analysts argue the pullback does not break gold’s long-term bull case, noting that the metal is holding above key support. Don’t fear a drop below $4,000, gold’s bull market isnt broken – Thorsten Polleit
• Neutral Sentiment: Gold is testing a major support zone, and a reversal could form if the undercut-and-run setup holds. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
• Negative Sentiment: Recent U.S. inflation data and higher-for-longer rate expectations are weighing on gold, pressuring bullion and gold-backed funds like IAU. Gold slumps to 6-month low even as inflation fears rise. Heres why bullion is out of favor
• Negative Sentiment: Several market updates say gold remains in a downtrend and near critical support, suggesting more downside risk if support breaks. Gold price remains under pressure as U.S. jobless claims rises to 229k

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).