NewEdge Advisors LLC Sells 450,450 Shares of iShares Gold Trust $IAU

NewEdge Advisors LLC lowered its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 38.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 727,251 shares of the exchange traded fund’s stock after selling 450,450 shares during the period. NewEdge Advisors LLC’s holdings in iShares Gold Trust were worth $64,114,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Merkkuri Wealth Advisors LLC bought a new position in iShares Gold Trust in the first quarter valued at $26,000. Fairway Wealth LLC raised its position 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 valued at $26,000 after purchasing an additional 252 shares in the last quarter. Godfrey Financial Associates Inc. bought a new stake in iShares Gold Trust during the fourth quarter worth about $25,000. Rossby Financial LCC lifted 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 purchasing an additional 140 shares during the last quarter. Finally, Monetary Solutions Ltd purchased a new position in shares of iShares Gold Trust in the 4th quarter worth about $26,000. 59.67% of the stock is owned by institutional investors.

Key Stories Impacting iShares Gold Trust

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

• Positive Sentiment: Gold’s breakout above $4,200 and move toward a seven-week high has improved technical momentum. Analysts see potential for further gains, with targets as high as $4,494 and a longer-term forecast of $5,000. Gold Price Forecast: Reversal Opens Path Toward $4,494
• Positive Sentiment: July marked a return to net inflows for gold-backed ETFs after two months of outflows, suggesting renewed institutional and investor demand that could benefit IAU. Gold Market Sees Positive ETF Inflows in July
• Positive Sentiment: Research firms continue to identify a favorable long-term backdrop from potentially peaking real yields, possible dollar weakness, central-bank buying, debt concerns and de-dollarization. Softer private-sector employment data also reduced expectations for additional Federal Reserve tightening. BCA Sees Bullish Opportunity as Real Yields Peak
• Neutral Sentiment: Friday’s U.S. nonfarm-payrolls report is the next major catalyst. Weak employment data could reinforce expectations for easier Fed policy and support gold, while a strong report could pressure bullion. NFP Outlook Keeps Bullion Rally in Focus
• Negative Sentiment: Gold pulled back after its breakout as investors took profits. Rising Treasury yields, a firmer U.S. dollar and higher oil prices increased the opportunity cost of holding a non-yielding asset, limiting IAU’s upside. Investors Take Profits in Gold and Silver
• Negative Sentiment: Progress or reduced tensions surrounding Strait of Hormuz negotiations weakened gold’s geopolitical safe-haven premium, while resilient U.S. jobless-claims data signaled that the economy remains relatively firm. Gold Steadies as Claims Beat and Hormuz Talks Trim Haven Bid

iShares Gold Trust Trading Up 0.0%

IAU opened at $79.87 on Friday. The stock has a market capitalization of $65.96 billion, a P/E ratio of 5.53 and a beta of 0.18. The stock has a 50-day moving average price of $78.17 and a 200-day moving average price of $86.32. iShares Gold Trust has a 12-month low of $62.48 and a 12-month 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).