Geneos Wealth Management Inc. Sells 21,421 Shares of iShares Gold Trust $IAU

Geneos Wealth Management Inc. lessened its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 34.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 40,622 shares of the exchange traded fund’s stock after selling 21,421 shares during the quarter. Geneos Wealth Management Inc.’s holdings in iShares Gold Trust were worth $3,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IAU. Godfrey Financial Associates Inc. bought a new stake in shares of iShares Gold Trust in the 4th quarter valued at approximately $25,000. Monetary Solutions Ltd bought a new stake in shares of iShares Gold Trust during the fourth quarter worth $26,000. Merkkuri Wealth Advisors LLC bought a new stake in shares of iShares Gold Trust during the first quarter worth approximately $26,000. Fairway Wealth LLC lifted its stake in iShares Gold Trust by 525.0% in the first quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 252 shares during the period. Finally, Rossby Financial LCC increased its stake in shares of iShares Gold Trust by 75.7% in the 4th quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock valued at $26,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

Shares of NYSEARCA:IAU opened at $75.50 on Friday. The firm’s 50 day simple moving average is $80.69 and its 200 day simple moving average is $87.01. The company has a market capitalization of $62.36 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a fifty-two week low of $61.60 and a fifty-two week high of $104.40.

Key Stories Impacting iShares Gold Trust

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

• Neutral Sentiment: Gold is trying to hold the $4,000 level after a sharp pullback, with next week likely to determine whether that area becomes a firm support zone or gives way to more downside. Markets will find out next week how firm $4,000 is as a floor for gold
• Neutral Sentiment: Fresh U.S. data, including better consumer sentiment and stronger housing starts, has eased some recession fears and reduced the immediate safe-haven bid for gold. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Negative Sentiment: Technical analysts say bearish momentum is building, with gold breaking trend support and key downside levels now in focus. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar have been repeatedly cited as headwinds for gold, pressuring prices below the key $4,000 mark. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report

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).