First Command Advisory Services Inc. Sells 342,477 Shares of iShares Gold Trust $IAU

First Command Advisory Services Inc. cut its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 40.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 506,735 shares of the exchange traded fund’s stock after selling 342,477 shares during the quarter. iShares Gold Trust accounts for 0.2% of First Command Advisory Services Inc.’s investment portfolio, making the stock its 26th biggest position. First Command Advisory Services Inc.’s holdings in iShares Gold Trust were worth $39,576,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IAU. BlackRock Inc. boosted its holdings in shares of iShares Gold Trust by 1.3% in the 2nd quarter. BlackRock Inc. now owns 8,732,671 shares of the exchange traded fund’s stock valued at $659,404,000 after buying an additional 109,246 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in iShares Gold Trust by 5.7% during the second quarter. Proficio Capital Partners LLC now owns 2,191,169 shares of the exchange traded fund’s stock worth $165,455,000 after buying an additional 118,328 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in iShares Gold Trust by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 1,840,038 shares of the exchange traded fund’s stock worth $138,941,000 after buying an additional 149,558 shares during the last quarter. AlTi Global Inc. increased its holdings in iShares Gold Trust by 5.4% during the second quarter. AlTi Global Inc. now owns 1,651,446 shares of the exchange traded fund’s stock worth $124,701,000 after buying an additional 84,457 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in iShares Gold Trust by 2.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,295,573 shares of the exchange traded fund’s stock worth $114,218,000 after acquiring an additional 34,076 shares in the last quarter. 59.67% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting iShares Gold Trust

These are some of the IAU stories that stood out recently:

• Positive Sentiment: Some analysts still see scope for a recovery: Standard Chartered expects gold to reach $4,650 by year-end, while central-bank purchases remain a source of longer-term demand. Gold prices find solid support at $4,000 as Standard Chartered sees rally to $4,650 by year-end China buys gold for two straight years as central bank demand remains a key pillar of support
• Positive Sentiment: Gold had an earlier rebound as bargain hunters and short covering stepped in after a sharp selloff, offering some near-term support, though that recovery did not hold through late U.S. trading. Gold, silver rebound after CPI-driven selloff, Hormuz tensions lift crude oil
• Negative Sentiment: Gold fell below $4,000 as hotter-than-expected U.S. inflation fueled expectations of further Federal Reserve rate increases. A stronger dollar and climbing real yields make non-yielding bullion less attractive, pressuring gold and, in turn, IAU. Analysts warned of possible further losses if support gives way. Gold falls below $4,000 as dollar surges, Fed hike bets rise Gold prices fall below $4,000 as analysts warn of further losses toward $3,900

iShares Gold Trust Trading Down 1.1%

NYSEARCA IAU opened at $74.87 on Thursday. The firm has a market capitalization of $59.03 billion, a P/E ratio of 5.53 and a beta of 0.20. The firm’s fifty day moving average price is $78.52 and its two-hundred day moving average price is $84.09. iShares Gold Trust has a 1 year low of $72.71 and a 1 year high of $104.40.

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).