iShares Gold Trust $IAU Stock Sold by WealthNavi Inc.

WealthNavi Inc. lessened its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 2.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,462,992 shares of the exchange traded fund’s stock after selling 190,248 shares during the period. iShares Gold Trust accounts for about 3.9% of WealthNavi Inc.’s portfolio, making the stock its 7th biggest holding. WealthNavi Inc.’s holdings in iShares Gold Trust were worth $504,760,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Latitude Advisors LLC acquired a new position in shares of iShares Gold Trust during the third quarter worth $128,000. Balance Wealth Partners LLC purchased a new stake in iShares Gold Trust during the 3rd quarter worth about $159,000. Independence Bank of Kentucky lifted its holdings in iShares Gold Trust by 362.8% during the 3rd quarter. Independence Bank of Kentucky now owns 30,552 shares of the exchange traded fund’s stock worth $2,386,000 after buying an additional 23,950 shares during the last quarter. Angeles Wealth Management LLC boosted its position in shares of iShares Gold Trust by 27.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 17,006 shares of the exchange traded fund’s stock worth $1,328,000 after acquiring an additional 3,672 shares in the last quarter. Finally, Ashton Thomas Securities LLC boosted its position in shares of iShares Gold Trust by 2.4% during the 3rd quarter. Ashton Thomas Securities LLC now owns 17,899 shares of the exchange traded fund’s stock worth $1,398,000 after acquiring an additional 412 shares in the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.

iShares Gold Trust Stock Up 1.2%

Shares of iShares Gold Trust stock opened at $76.33 on Wednesday. The firm’s 50 day moving average is $80.61 and its two-hundred day moving average is $84.78. The firm has a market capitalization of $60.19 billion, a P/E ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a 52 week low of $73.74 and a 52 week high of $104.40.

iShares Gold Trust News Roundup

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

• Positive Sentiment: Gold climbed above $4,050 in late U.S. trading as declining crude-oil prices reduced inflation concerns and encouraged renewed buying of precious metals before the Fed meeting. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Gold is holding near the $4,000 support area while weak U.S. new-home-sales data is adding to safe-haven demand and raising concerns about economic growth. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: Traders bought 19,788 IAU call options, 161% above typical volume, signaling increased speculative interest in a potential gold rebound, though options activity is not a guarantee of future performance.
• Neutral Sentiment: Analysts describe gold as oversold after its recent decline. State Street sees a possible recovery toward $5,500 by early next year, while Standard Chartered says prices must establish a floor to avoid a deeper correction. Downside risks are building in gold, but prices still have a path to $5,000
• Negative Sentiment: Expectations for additional Fed tightening, including the possibility of a later-year rate hike, continue to pressure gold by making interest-bearing assets more attractive. Gold Edges Lower as Investors Mull Potential Fed Rate Hike This Year
• Negative Sentiment: Gold’s two-month downtrend and failure to firmly hold $4,000 have weakened investor confidence. Persistent Middle East energy-supply uncertainty could also keep oil elevated and revive inflation and rate fears. Precious metals weaken as Hormuz uncertainty keeps oil elevated ahead of Fed decision

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).