WealthNavi Inc. Sells 190,248 Shares of iShares Gold Trust $IAU

WealthNavi Inc. cut its position in iShares Gold Trust (NYSEARCA:IAU) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,462,992 shares of the exchange traded fund’s stock after selling 190,248 shares during the quarter. iShares Gold Trust accounts for 3.9% of WealthNavi Inc.’s holdings, making the stock its 7th largest holding. WealthNavi Inc. owned approximately 0.82% of iShares Gold Trust worth $504,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IAU. RFG Advisory LLC increased its stake in iShares Gold Trust by 35.8% during the 2nd quarter. RFG Advisory LLC now owns 38,956 shares of the exchange traded fund’s stock worth $2,942,000 after buying an additional 10,263 shares during the period. Wealth Care LLC acquired a new stake in iShares Gold Trust during the 1st quarter worth approximately $9,270,000. Acorn Financial Advisory Services Inc. ADV boosted its position in iShares Gold Trust by 3.1% in the 1st quarter. Acorn Financial Advisory Services Inc. ADV now owns 483,758 shares of the exchange traded fund’s stock valued at $42,648,000 after buying an additional 14,344 shares during the period. Robertson Stephens Wealth Management LLC boosted its position in iShares Gold Trust by 70.2% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 32,722 shares of the exchange traded fund’s stock valued at $2,556,000 after buying an additional 13,497 shares during the period. Finally, Wedbush Securities Inc. boosted its position in iShares Gold Trust by 18.2% in the 2nd quarter. Wedbush Securities Inc. now owns 54,861 shares of the exchange traded fund’s stock valued at $4,143,000 after buying an additional 8,462 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 1.2%

NYSEARCA:IAU opened at $76.33 on Wednesday. The company has a fifty day simple moving average of $80.61 and a two-hundred day simple moving average of $84.78. The company has a market cap of $60.19 billion, a price-to-earnings 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.

Key Headlines Impacting iShares Gold Trust

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).