iShares Gold Trust $IAU Stock: Sowell Financial Services LLC Boosts Holdings

Sowell Financial Services LLC raised its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 79.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 161,542 shares of the exchange traded fund’s stock after buying an additional 71,691 shares during the period. Sowell Financial Services LLC’s holdings in iShares Gold Trust were worth $12,616,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IAU. BlackRock Inc. boosted its holdings in shares of 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 worth $659,404,000 after buying an additional 109,246 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of iShares Gold Trust by 5.7% during the second quarter. Proficio Capital Partners LLC now owns 2,191,169 shares of the exchange traded fund’s stock valued at $165,455,000 after acquiring an additional 118,328 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of iShares Gold Trust by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 1,840,038 shares of the exchange traded fund’s stock valued at $138,941,000 after acquiring an additional 149,558 shares during the period. AlTi Global Inc. lifted its position in shares of iShares Gold Trust by 5.4% in the 2nd quarter. AlTi Global Inc. now owns 1,651,446 shares of the exchange traded fund’s stock valued at $124,701,000 after acquiring an additional 84,457 shares in the last quarter. Finally, GM Advisory Group LLC lifted its position in shares of iShares Gold Trust by 2.8% in the 1st quarter. GM Advisory Group LLC now owns 1,569,661 shares of the exchange traded fund’s stock valued at $138,381,000 after acquiring an additional 42,385 shares in the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.

iShares Gold Trust News Roundup

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

• Positive Sentiment: Gold ETF holdings have reached a record, signaling continued investor demand. The World Gold Council also estimates that tokenized gold could eventually unlock as much as $700 billion in new demand, offering a longer-term potential catalyst for gold-backed funds such as IAU. Gold and Silver Price Forecast: ETF Holdings Hit Record Tokenized gold could unlock $700 billion new demand
• Positive Sentiment: CIBC lowered its near-term gold forecasts but continues to expect strong longer-term prices, citing central-bank purchases as a support for the metal. CIBC slashes gold price forecasts but sees recovery
• Neutral Sentiment: Gold is technically positioned between major support near $4,000-$4,100 and resistance around $4,217-$4,260. A successful recovery above resistance could improve sentiment, while a break below support would increase downside risk. Gold Tests Major Demand Zone
• Negative Sentiment: Higher oil prices are reviving inflation concerns, while resilient yields, a firmer dollar and roughly 94% odds of a December Fed hike are discouraging non-yielding assets such as gold. Oil Premium and December Rate Bet Keep Sellers in Control
• Negative Sentiment: Recent weakness in U.S. housing data has not generated meaningful safe-haven buying, reinforcing the view that macroeconomic and interest-rate pressures currently outweigh defensive demand. Gold struggling to catch a bid

iShares Gold Trust Stock Performance

iShares Gold Trust stock opened at $77.44 on Wednesday. The company has a 50 day moving average price of $81.27 and a 200 day moving average price of $81.95. iShares Gold Trust has a 52 week low of $73.74 and a 52 week high of $104.40. The firm has a market capitalization of $61.07 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18.

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).