Zhang Financial LLC Has $40.88 Million Position in iShares Gold Trust $IAU

Zhang Financial LLC cut its holdings in iShares Gold Trust (NYSEARCA:IAU) by 2.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 463,742 shares of the exchange traded fund’s stock after selling 9,678 shares during the period. iShares Gold Trust accounts for approximately 1.4% of Zhang Financial LLC’s portfolio, making the stock its 15th biggest holding. Zhang Financial LLC owned 0.05% of iShares Gold Trust worth $40,883,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Simon Quick Advisors LLC increased its position in iShares Gold Trust by 23.2% in the 1st quarter. Simon Quick Advisors LLC now owns 15,370 shares of the exchange traded fund’s stock worth $1,355,000 after buying an additional 2,898 shares during the period. Hamilton Point Investment Advisors LLC lifted its holdings in shares of iShares Gold Trust by 0.8% during the first quarter. Hamilton Point Investment Advisors LLC now owns 205,299 shares of the exchange traded fund’s stock worth $18,099,000 after buying an additional 1,701 shares during the last quarter. Angeles Wealth Management LLC lifted its holdings in shares of iShares Gold Trust by 2.6% during the first quarter. Angeles Wealth Management LLC now owns 13,334 shares of the exchange traded fund’s stock worth $1,176,000 after buying an additional 334 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of iShares Gold Trust by 8.1% in the first quarter. Bessemer Group Inc. now owns 99,550 shares of the exchange traded fund’s stock valued at $8,777,000 after acquiring an additional 7,419 shares during the period. Finally, Avalon Trust Co boosted its position in shares of iShares Gold Trust by 6.7% in the first quarter. Avalon Trust Co now owns 4,000 shares of the exchange traded fund’s stock valued at $353,000 after acquiring an additional 250 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Trading Up 0.9%

Shares of iShares Gold Trust stock opened at $75.50 on Friday. The company’s fifty day simple moving average is $80.69 and its 200-day simple moving average is $87.01. The company has a market cap of $62.36 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a 1 year low of $61.60 and a 1 year high of $104.40.

iShares Gold Trust News Summary

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

• Neutral Sentiment: Gold is trying to hold the $4,000 level after a sharp pullback, with next week likely to determine whether that area becomes a firm support zone or gives way to more downside. Markets will find out next week how firm $4,000 is as a floor for gold
• Neutral Sentiment: Fresh U.S. data, including better consumer sentiment and stronger housing starts, has eased some recession fears and reduced the immediate safe-haven bid for gold. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Negative Sentiment: Technical analysts say bearish momentum is building, with gold breaking trend support and key downside levels now in focus. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar have been repeatedly cited as headwinds for gold, pressuring prices below the key $4,000 mark. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM 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).