iShares Gold Trust $IAU is Forbes J M & Co. LLP’s Largest Position

Forbes J M & Co. LLP reduced its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 22.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 918,801 shares of the exchange traded fund’s stock after selling 264,360 shares during the quarter. iShares Gold Trust makes up 6.9% of Forbes J M & Co. LLP’s portfolio, making the stock its biggest holding. Forbes J M & Co. LLP’s holdings in iShares Gold Trust were worth $81,001,000 as of its most recent filing with the Securities and Exchange Commission.

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

iShares Gold Trust Stock Performance

IAU opened at $79.33 on Monday. iShares Gold Trust has a one year low of $61.37 and a one year high of $104.40. The stock has a market capitalization of $67.54 billion, a PE ratio of 5.53 and a beta of 0.15. The business’s 50 day moving average price is $85.56 and its 200 day moving average price is $87.73.

More iShares Gold Trust News

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).