Kaydan Wealth Management Inc. Sells 172,999 Shares of iShares Gold Trust $IAU

Kaydan Wealth Management Inc. lessened its holdings in iShares Gold Trust (NYSEARCA:IAU) by 97.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,976 shares of the exchange traded fund’s stock after selling 172,999 shares during the period. Kaydan Wealth Management Inc.’s holdings in iShares Gold Trust were worth $376,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wills Financial Group LLC raised its position in iShares Gold Trust by 9.8% in the fourth quarter. Wills Financial Group LLC now owns 147,134 shares of the exchange traded fund’s stock worth $11,943,000 after acquiring an additional 13,093 shares during the period. Wealth Care LLC purchased a new position in iShares Gold Trust in the first quarter valued at about $9,270,000. Greykasell Wealth Strategies Inc. grew its position in shares of iShares Gold Trust by 1,107.5% during the 4th quarter. Greykasell Wealth Strategies Inc. now owns 10,240 shares of the exchange traded fund’s stock valued at $831,000 after acquiring an additional 9,392 shares during the period. Acorn Financial Advisory Services Inc. ADV grew its position in shares of iShares Gold Trust by 3.1% during 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 acquiring an additional 14,344 shares during the period. Finally, Outlook Wealth Advisors LLC increased its stake in shares of iShares Gold Trust by 48.7% during the 4th quarter. Outlook Wealth Advisors LLC now owns 24,046 shares of the exchange traded fund’s stock worth $1,952,000 after purchasing an additional 7,876 shares during the last quarter. 59.67% of the stock is owned by institutional investors.

Trending Headlines about iShares Gold Trust

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

• Positive Sentiment: Gold has found some support after the initial selloff, with investors continuing to view the metal as a strategic allocation amid rising government debt, inflation concerns and instability in global bond markets. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold ETF demand could remain resilient despite higher yields because of inflation, fiscal and currency risks, while central banks continue accumulating bullion. The World Gold Council reported 23 net tonnes of central-bank purchases in July, led by China and Poland. Why Gold ETFs Could Keep Shining Despite Higher Rates
• Positive Sentiment: European reserve-management changes and geopolitical tensions are reinforcing gold’s appeal as a crisis asset. The Netherlands moved roughly 86 tons of gold from North America to London to improve crisis preparedness. Dutch central bank moves gold bars out of U.S. and Canada

iShares Gold Trust Trading Down 0.8%

NYSEARCA:IAU opened at $83.39 on Friday. The stock has a market capitalization of $68.87 billion, a PE ratio of 5.53 and a beta of 0.19. The firm’s 50 day moving average is $79.73 and its 200 day moving average is $84.96. iShares Gold Trust has a 12 month low of $67.35 and a 12 month high of $104.40.

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).