Spectrum Planning & Advisory Services Inc. Reduces Stock Position in iShares Gold Trust $IAU

Spectrum Planning & Advisory Services Inc. trimmed its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 60.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,537 shares of the exchange traded fund’s stock after selling 18,902 shares during the period. Spectrum Planning & Advisory Services Inc.’s holdings in iShares Gold Trust were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new stake in iShares Gold Trust during the fourth quarter worth $1,864,000. Bison Wealth LLC grew its holdings in iShares Gold Trust by 78.5% in the fourth quarter. Bison Wealth LLC now owns 16,778 shares of the exchange traded fund’s stock valued at $831,000 after purchasing an additional 7,379 shares during the last quarter. AQR Capital Management LLC increased its position in shares of iShares Gold Trust by 47.0% in the first quarter. AQR Capital Management LLC now owns 26,936 shares of the exchange traded fund’s stock valued at $1,588,000 after buying an additional 8,609 shares in the last quarter. Glenview Trust co increased its position in shares of iShares Gold Trust by 9.7% in the second quarter. Glenview Trust co now owns 12,384 shares of the exchange traded fund’s stock valued at $772,000 after buying an additional 1,095 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in shares of iShares Gold Trust by 6.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 36,817 shares of the exchange traded fund’s stock worth $2,296,000 after buying an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

NYSEARCA:IAU opened at $79.33 on Monday. iShares Gold Trust has a 52-week low of $61.37 and a 52-week high of $104.40. The stock has a fifty day simple moving average of $85.56 and a 200-day simple moving average of $87.73. The company has a market capitalization of $67.54 billion, a PE ratio of 5.53 and a beta of 0.15.

Key Stories Impacting iShares Gold Trust

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).