Grant Street Asset Management Inc. Grows Position in iShares Gold Trust $IAU

Grant Street Asset Management Inc. grew its position in iShares Gold Trust (NYSEARCA:IAU) by 901.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 34,246 shares of the exchange traded fund’s stock after acquiring an additional 30,825 shares during the quarter. iShares Gold Trust makes up approximately 0.6% of Grant Street Asset Management Inc.’s investment portfolio, making the stock its 17th biggest position. Grant Street Asset Management Inc.’s holdings in iShares Gold Trust were worth $3,019,000 at the end of the most recent quarter.

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

iShares Gold Trust Price Performance

iShares Gold Trust stock opened at $75.50 on Monday. iShares Gold Trust has a 52-week low of $61.60 and a 52-week high of $104.40. The firm has a fifty day moving average of $80.69 and a 200-day moving average of $87.04. The firm has a market capitalization of $62.36 billion, a P/E ratio of 5.53 and a beta of 0.18.

iShares Gold Trust News Roundup

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

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).