Wealth Alliance LLC Sells 46,463 Shares of iShares Gold Trust $IAU

Wealth Alliance LLC reduced its position in iShares Gold Trust (NYSEARCA:IAU) by 31.5% in the first quarter, Holdings Channel.com reports. The fund owned 101,021 shares of the exchange traded fund’s stock after selling 46,463 shares during the period. iShares Gold Trust makes up about 0.9% of Wealth Alliance LLC’s investment portfolio, making the stock its 18th largest position. Wealth Alliance LLC’s holdings in iShares Gold Trust were worth $8,906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in IAU. Concurrent Investment Advisors LLC boosted its stake in iShares Gold Trust by 381.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock valued at $205,744,000 after purchasing an additional 2,008,288 shares during the last quarter. Citigroup Inc. raised its stake in shares of iShares Gold Trust by 35.7% in the fourth quarter. Citigroup Inc. now owns 7,201,313 shares of the exchange traded fund’s stock worth $584,531,000 after purchasing an additional 1,893,594 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of iShares Gold Trust by 18.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,595,990 shares of the exchange traded fund’s stock worth $535,396,000 after purchasing an additional 1,019,135 shares during the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of iShares Gold Trust by 503.7% during the second quarter. Orion Porfolio Solutions LLC now owns 930,318 shares of the exchange traded fund’s stock valued at $58,015,000 after purchasing an additional 776,215 shares in the last quarter. Finally, VCU Investment Management Co bought a new position in shares of iShares Gold Trust during the fourth quarter valued at $61,835,000. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Price Performance

iShares Gold Trust stock opened at $76.23 on Friday. iShares Gold Trust has a one year low of $61.60 and a one year high of $104.40. The stock has a market capitalization of $62.96 billion, a PE ratio of 5.53 and a beta of 0.18. The business’s fifty day moving average is $79.55 and its 200 day moving average is $86.83.

Trending Headlines about iShares Gold Trust

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

• Positive Sentiment: Gold held critical support near $4,000 for the fifth straight week, which analysts say could mark an inflection point for a bullish turn. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports hit a fresh two-year high as lower prices boosted demand in the world’s largest bullion market. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Gold rebounded as Treasury yields eased and oil prices pulled back, both of which can improve the appeal of non-yielding assets like gold. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Neutral Sentiment: Several reports say gold is still stuck in a consolidation range, with strong U.S. economic data and firm yields limiting a sustained breakout. Gold stuck in neutral as S&P Global highlights healthy US PMI activity
• Neutral Sentiment: BlackRock’s Koesterich said investors should still keep a modest gold allocation, even though near-term downside risks remain. Investors should still hold a modest amount of gold – BlackRock’s Koesterich
• Negative Sentiment: Gold also faced pressure from higher Treasury yields, a firmer U.S. dollar, and resilient labor-market data, which have recently capped rebounds. Gold holds above $4,020 as Fed-rate risk caps rebound – Kitco AM Report

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).