Bluedoor Private Wealth LLC Invests $4.46 Million in iShares Gold Trust $IAU

Bluedoor Private Wealth LLC bought a new position in shares of iShares Gold Trust (NYSEARCA:IAU) in the 4th quarter, Holdings Channel reports. The fund bought 54,981 shares of the exchange traded fund’s stock, valued at approximately $4,463,000. iShares Gold Trust makes up 2.1% of Bluedoor Private Wealth LLC’s holdings, making the stock its 14th biggest position.

Several other hedge funds have also made changes to their positions in IAU. CIBC Bancorp USA Inc. acquired a new stake in shares of iShares Gold Trust during the third quarter worth about $193,639,000. JPMorgan Chase & Co. boosted its stake in shares of iShares Gold Trust by 20.6% during the third quarter. JPMorgan Chase & Co. now owns 13,165,231 shares of the exchange traded fund’s stock worth $958,034,000 after buying an additional 2,245,617 shares during the period. Concurrent Investment Advisors LLC boosted its stake in shares of iShares Gold Trust by 381.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock worth $205,744,000 after buying an additional 2,008,288 shares during the period. Citigroup Inc. boosted its stake in shares of iShares Gold Trust by 35.7% during the fourth quarter. Citigroup Inc. now owns 7,201,313 shares of the exchange traded fund’s stock worth $584,531,000 after buying an additional 1,893,594 shares during the period. Finally, Mizuho Bank Ltd. acquired a new stake in shares of iShares Gold Trust during the third quarter worth about $120,798,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

Trending Headlines about iShares Gold Trust

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

• Positive Sentiment: Gold jumped as the U.S.-Iran ceasefire/deal eased oil-price pressure and inflation fears, improving the outlook for gold and gold-backed funds. Gold clears $4,300 as Hormuz deal cuts oil, yield pressure – Kitco PM Report
• Positive Sentiment: Comex gold settled sharply higher, reinforcing momentum in bullion prices and supporting IAU. Comex Gold Settles 2.68% Higher at $4328.00
• Positive Sentiment: Gold rallied further as oil prices tumbled and analysts said the move was driven by lower geopolitical risk and softer rate-hike expectations. Gold rallies above $4,350 as oil prices tumble, but analysts say recovery is not complete
• Positive Sentiment: Reports noted gold is benefiting from the Iran deal, weaker dollar conditions, and renewed expectations for Federal Reserve easing. Gold (XAUUSD) Price Forecast: Gold Rally Builds as Iran Deal Cuts Rate Hike Bets

iShares Gold Trust Stock Performance

Shares of IAU opened at $81.26 on Tuesday. iShares Gold Trust has a fifty-two week low of $61.37 and a fifty-two week high of $104.40. The company has a market capitalization of $69.18 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15. The firm has a 50-day simple moving average of $86.23 and a 200-day simple moving average of $87.70.

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).