HighTower Advisors LLC Decreases Stock Position in iShares Gold Trust $IAU

HighTower Advisors LLC cut its holdings in iShares Gold Trust (NYSEARCA:IAU) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,247,846 shares of the exchange traded fund’s stock after selling 43,044 shares during the quarter. HighTower Advisors LLC’s holdings in iShares Gold Trust were worth $245,245,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IAU. Merkkuri Wealth Advisors LLC bought a new stake in shares of iShares Gold Trust in the 1st quarter worth $26,000. Fairway Wealth LLC increased its holdings in iShares Gold Trust by 525.0% in the 1st quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 252 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new position in iShares Gold Trust in the 4th quarter worth about $25,000. Rossby Financial LCC lifted its stake in iShares Gold Trust by 75.7% during 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 period. Finally, Monetary Solutions Ltd bought a new position in iShares Gold Trust during the 4th quarter valued at about $26,000. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Price Performance

Shares of NYSEARCA IAU opened at $83.39 on Monday. The firm’s 50-day moving average price is $79.73 and its 200-day moving average price is $84.89. iShares Gold Trust has a 52-week low of $67.35 and a 52-week high of $104.40. The company has a market cap of $68.87 billion, a PE ratio of 5.53 and a beta of 0.19.

Key Headlines Impacting iShares Gold Trust

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

• Positive Sentiment: Gold has found some support after the initial selloff, with investors continuing to view the metal as a strategic allocation amid rising government debt, inflation concerns and instability in global bond markets. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold ETF demand could remain resilient despite higher yields because of inflation, fiscal and currency risks, while central banks continue accumulating bullion. The World Gold Council reported 23 net tonnes of central-bank purchases in July, led by China and Poland. Why Gold ETFs Could Keep Shining Despite Higher Rates
• Positive Sentiment: European reserve-management changes and geopolitical tensions are reinforcing gold’s appeal as a crisis asset. The Netherlands moved roughly 86 tons of gold from North America to London to improve crisis preparedness. Dutch central bank moves gold bars out of U.S. and Canada

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).