Spectrum Planning & Advisory Services Inc. Trims Stake in iShares Gold Trust $IAU

Spectrum Planning & Advisory Services Inc. lessened its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 60.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 12,537 shares of the exchange traded fund’s stock after selling 18,902 shares during the period. Spectrum Planning & Advisory Services Inc.’s holdings in iShares Gold Trust were worth $1,105,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IAU. Godfrey Financial Associates Inc. acquired a new position in shares of iShares Gold Trust in the fourth quarter worth $25,000. Monetary Solutions Ltd purchased a new stake in shares of iShares Gold Trust in the fourth quarter valued at $26,000. Rossby Financial LCC boosted its stake in shares of iShares Gold Trust by 75.7% during the fourth 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. Gables Capital Management Inc. boosted its stake in shares of iShares Gold Trust by 173.1% during the fourth quarter. Gables Capital Management Inc. now owns 355 shares of the exchange traded fund’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in iShares Gold Trust during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

iShares Gold Trust stock opened at $79.33 on Monday. The stock has a 50-day moving average price of $85.56 and a 200 day moving average price of $87.73. iShares Gold Trust has a 52 week low of $61.37 and a 52 week high of $104.40. The stock has a market cap of $67.54 billion, a PE ratio of 5.53 and a beta of 0.15.

Key Stories Impacting iShares Gold Trust

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

• Negative Sentiment: Gold prices weakened after the Fed signaled a higher-for-longer rate stance, with some traders now pricing in the possibility of at least one rate hike later this year. Hawkish Fed keeps pressure on gold as physical premiums soften – Kitco PM Report
• Negative Sentiment: Multiple market outlooks point to gold testing key support levels, with analysts warning the metal could retest the $4,000 area if bearish momentum continues. Gold (XAU/USD) Price Forecast: Support Test Could Shape Next Major Move
• Negative Sentiment: Stronger U.S. labor and manufacturing data, along with a firmer dollar, added to the pressure on precious metals and reinforced the shift away from defensive gold positioning. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June

iShares Gold Trust Company 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).