iShares Gold Trust $IAU is Connective Portfolio Management LLC’s Largest Position

Connective Portfolio Management LLC reduced its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 24.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,029 shares of the exchange traded fund’s stock after selling 15,000 shares during the quarter. iShares Gold Trust makes up approximately 11.2% of Connective Portfolio Management LLC’s portfolio, making the stock its largest position. Connective Portfolio Management LLC’s holdings in iShares Gold Trust were worth $4,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IAU. CIBC Bancorp USA Inc. bought a new stake in iShares Gold Trust in the third quarter worth approximately $193,639,000. Concurrent Investment Advisors LLC increased its stake in shares of iShares Gold Trust by 381.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock worth $205,744,000 after purchasing an additional 2,008,288 shares during the last quarter. Citigroup Inc. raised its holdings in shares of iShares Gold Trust by 35.7% during the 4th quarter. Citigroup Inc. now owns 7,201,313 shares of the exchange traded fund’s stock valued at $584,531,000 after purchasing an additional 1,893,594 shares in the last quarter. Mizuho Bank Ltd. bought a new position in shares of iShares Gold Trust during the 3rd quarter valued at $120,798,000. Finally, Emory University acquired a new stake in shares of iShares Gold Trust in the 3rd quarter valued at $78,661,000. 59.67% of the stock is owned by hedge funds and other institutional investors.

iShares Gold Trust News Roundup

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 Stock Performance

IAU stock opened at $79.33 on Friday. The firm has a market cap of $67.54 billion, a PE ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a 1 year low of $61.37 and a 1 year high of $104.40. The company has a fifty day simple moving average of $85.56 and a 200 day simple moving average of $87.67.

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).