Green Ridge Wealth Planning LLC Purchases New Position in iShares Gold Trust $IAU

Green Ridge Wealth Planning LLC acquired a new stake in iShares Gold Trust (NYSEARCA:IAU) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 17,931 shares of the exchange traded fund’s stock, valued at approximately $1,455,000. iShares Gold Trust accounts for 0.7% of Green Ridge Wealth Planning LLC’s portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Godfrey Financial Associates Inc. bought a new position in iShares Gold Trust in the fourth quarter worth about $25,000. Rossby Financial LCC increased its position in iShares Gold Trust by 75.7% in the fourth quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 140 shares during the period. Monetary Solutions Ltd acquired a new position in shares of iShares Gold Trust during the fourth quarter valued at $26,000. Gables Capital Management Inc. grew its position in shares of iShares Gold Trust by 173.1% during the fourth quarter. Gables Capital Management Inc. now owns 355 shares of the exchange traded fund’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new stake in shares of iShares Gold Trust in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

Shares of NYSEARCA:IAU opened at $79.33 on Friday. The stock has a market capitalization of $67.54 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a 1-year low of $61.37 and a 1-year high of $104.40. The company has a 50 day moving average price of $85.56 and a 200 day moving average price of $87.67.

More iShares Gold Trust News

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

• Negative Sentiment: Gold prices weakened after the Fed signaled a higher-for-longer rate stance, with some traders now pricing in the possibility of at least one rate hike later this year. Hawkish Fed keeps pressure on gold as physical premiums soften – Kitco PM Report
• Negative Sentiment: Multiple market outlooks point to gold testing key support levels, with analysts warning the metal could retest the $4,000 area if bearish momentum continues. Gold (XAU/USD) Price Forecast: Support Test Could Shape Next Major Move
• Negative Sentiment: Stronger U.S. labor and manufacturing data, along with a firmer dollar, added to the pressure on precious metals and reinforced the shift away from defensive gold positioning. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June

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).