Highland Financial Advisors LLC Sells 9,934 Shares of iShares Gold Trust $IAU

Highland Financial Advisors LLC cut its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,538 shares of the exchange traded fund’s stock after selling 9,934 shares during the period. iShares Gold Trust makes up approximately 2.1% of Highland Financial Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Highland Financial Advisors LLC’s holdings in iShares Gold Trust were worth $9,328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. LPL Financial LLC raised its position in shares of 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 acquiring an additional 203,528 shares during the period. Wells Fargo & Company MN grew its holdings in iShares Gold Trust by 2.0% during the fourth quarter. Wells Fargo & Company MN now owns 13,136,955 shares of the exchange traded fund’s stock valued at $1,066,327,000 after purchasing an additional 260,541 shares during the period. BlackRock Inc. increased its stake in iShares Gold Trust by 1.3% in the second quarter. BlackRock Inc. now owns 8,732,671 shares of the exchange traded fund’s stock valued at $659,404,000 after purchasing an additional 109,246 shares in the last quarter. Citigroup Inc. increased its stake in 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 valued at $584,531,000 after purchasing an additional 1,893,594 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in iShares Gold Trust by 2.3% in the second quarter. Ameriprise Financial Inc. now owns 6,616,480 shares of the exchange traded fund’s stock valued at $412,563,000 after purchasing an additional 148,881 shares in the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

IAU opened at $83.39 on Friday. The firm’s fifty day moving average is $79.73 and its two-hundred day moving average is $84.96. The firm has a market cap of $68.87 billion, a PE ratio of 5.53 and a beta of 0.19. iShares Gold Trust has a twelve month low of $67.35 and a twelve month high of $104.40.

Key Headlines Impacting iShares Gold Trust

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

• Positive Sentiment: Gold has found some support after the initial selloff, with investors continuing to view the metal as a strategic allocation amid rising government debt, inflation concerns and instability in global bond markets. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold ETF demand could remain resilient despite higher yields because of inflation, fiscal and currency risks, while central banks continue accumulating bullion. The World Gold Council reported 23 net tonnes of central-bank purchases in July, led by China and Poland. Why Gold ETFs Could Keep Shining Despite Higher Rates
• Positive Sentiment: European reserve-management changes and geopolitical tensions are reinforcing gold’s appeal as a crisis asset. The Netherlands moved roughly 86 tons of gold from North America to London to improve crisis preparedness. Dutch central bank moves gold bars out of U.S. and Canada

iShares Gold Trust 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).