Sheets Smith Wealth Management Has $736,000 Holdings in iShares Gold Trust $IAU

Sheets Smith Wealth Management lessened its holdings in iShares Gold Trust (NYSEARCA:IAU) by 38.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,748 shares of the exchange traded fund’s stock after selling 6,031 shares during the quarter. Sheets Smith Wealth Management’s holdings in iShares Gold Trust were worth $736,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IAU. Merkkuri Wealth Advisors LLC acquired a new stake in iShares Gold Trust in the 1st quarter valued at $26,000. Fairway Wealth LLC boosted its stake in shares of iShares Gold Trust by 525.0% during the 1st quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 252 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new position in shares of iShares Gold Trust during the 4th quarter worth about $25,000. Rossby Financial LCC grew its holdings in shares of iShares Gold Trust by 75.7% in the 4th quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock valued at $26,000 after acquiring an additional 140 shares in the last quarter. Finally, Monetary Solutions Ltd bought a new position in shares of iShares Gold Trust in the 4th quarter valued at about $26,000. Institutional investors own 59.67% of the company’s stock.

Key Headlines Impacting iShares Gold Trust

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

• Positive Sentiment: Longer-term demand remains supportive. Analysts cited rising U.S. government debt, potential currency debasement and de-dollarization as reasons investors and foreign central banks may continue favoring gold over alternative assets such as Bitcoin. Some forecasts see additional upside if fiscal concerns persist. Gold’s renewed momentum is sending a warning about America’s $40 trillion debt
• Positive Sentiment: Gold has rebounded roughly 15% since June, and several analysts continue to view the broader trend as bullish while prices remain above important longer-term support. Gold is Glittering This Quarter
• Neutral Sentiment: Markets are awaiting Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks and further rate guidance. A divided Fed could produce significant volatility, with gold traders monitoring support around $4,500-$4,575 and resistance near $4,700-$4,800. Gold is on the radar screen and the Fed is split down the middle
• Negative Sentiment: Near-term selling intensified after Warsh emphasized that inflation remains a greater concern than a slowing labor market, reviving expectations for a possible September rate hike. Higher yields and a firmer U.S. dollar reduce the appeal of non-yielding gold. Gold prices drop 1% as Warsh says inflation is a bigger concern
• Negative Sentiment: Gold fell sharply over several sessions and broke below its 200-day moving average, a potentially bearish technical signal. The latest employment revisions and easing inflation expectations also reduced demand for gold as a defensive hedge. Gold News: Gold Price Breaks 200-Day MA as Warsh Revives September Hike Bets

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $83.82 on Friday. iShares Gold Trust has a 52-week low of $64.41 and a 52-week high of $104.40. The company has a market cap of $69.23 billion, a P/E ratio of 5.53 and a beta of 0.18. The stock’s 50-day simple moving average is $79.09 and its 200 day simple moving average is $85.36.

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).