Guardian Capital LLC Takes $3 Million Position in iShares Gold Trust $IAU

Guardian Capital LLC purchased a new stake in shares of iShares Gold Trust (NYSEARCA:IAU) during the fourth quarter, Holdings Channel.com reports. The fund purchased 36,901 shares of the exchange traded fund’s stock, valued at approximately $2,995,000. iShares Gold Trust makes up about 2.7% of Guardian Capital LLC’s investment portfolio, making the stock its 8th biggest holding.

A number of other institutional investors have also recently made changes to their positions in IAU. Schmidt P J Investment Management Inc. grew its holdings in iShares Gold Trust by 1.1% during the fourth quarter. Schmidt P J Investment Management Inc. now owns 9,362 shares of the exchange traded fund’s stock valued at $760,000 after purchasing an additional 106 shares during the period. Foster Group Inc. grew its holdings in iShares Gold Trust by 2.4% during the fourth quarter. Foster Group Inc. now owns 5,126 shares of the exchange traded fund’s stock valued at $416,000 after purchasing an additional 120 shares during the period. Two West Capital Advisors LLC grew its holdings in iShares Gold Trust by 1.9% during the fourth quarter. Two West Capital Advisors LLC now owns 7,035 shares of the exchange traded fund’s stock valued at $571,000 after purchasing an additional 132 shares during the period. Focused Wealth Management Inc grew its holdings in iShares Gold Trust by 3.4% during the fourth quarter. Focused Wealth Management Inc now owns 4,063 shares of the exchange traded fund’s stock valued at $330,000 after purchasing an additional 132 shares during the period. Finally, Evolution Wealth Advisors LLC grew its holdings in iShares Gold Trust by 1.5% during the third quarter. Evolution Wealth Advisors LLC now owns 8,875 shares of the exchange traded fund’s stock valued at $646,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.

Key iShares Gold Trust News

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

• Positive Sentiment: Some market commentary still points to long-term support for gold from central bank buying and ongoing geopolitical uncertainty, which could help limit downside over time. Central Banks Are Snapping Up Gold ETF Investors Are Just Waking Up: The Best Gold ETFs to Own Before It Hits $5,000
• Neutral Sentiment: Gold remains near a major support zone, and several analysts say that area will determine whether the metal stabilizes or extends its correction. Wall Street sees gold dropping further as yields and the dollar strengthen, Main Street maintains bullish bias as $4,500 emerges as critical support
• Neutral Sentiment: Longer-term demand for gold is still being supported by safe-haven interest, but that positive backdrop is being offset in the short run by higher rates and dollar strength. Gold and silver await fresh catalyst despite supportive fundamentals – Sucden Financials
• Negative Sentiment: Gold prices fell as the dollar strengthened and Treasury yields moved higher, hurting demand for gold as a non-yielding asset. Gold News: Gold Price Breaks Lower as Dollar Hits 99 and Yields Surge
• Negative Sentiment: Several reports describe a broad sell-off in precious metals, with gold breaking key support and silver also sliding, reinforcing bearish momentum in the sector. Gold and silver slammed as Iran war fuels inflation and rate hike fears
• Negative Sentiment: Technical analysis points to a bearish breakdown in gold, with downside risk toward a deeper support zone if selling continues. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $85.51 on Friday. The stock has a 50-day simple moving average of $89.23 and a two-hundred day simple moving average of $86.62. iShares Gold Trust has a 52-week low of $59.71 and a 52-week high of $104.40. The firm has a market capitalization of $72.80 billion, a PE ratio of 5.53 and a beta of 0.16.

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).