Upper Left Wealth Management LLC Sells 26,876 Shares of iShares Gold Trust $IAU

Upper Left Wealth Management LLC lowered its holdings in iShares Gold Trust (NYSEARCA:IAU) by 14.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,080 shares of the exchange traded fund’s stock after selling 26,876 shares during the period. iShares Gold Trust makes up 8.3% of Upper Left Wealth Management LLC’s portfolio, making the stock its biggest position. Upper Left Wealth Management LLC’s holdings in iShares Gold Trust were worth $14,024,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of iShares Gold Trust by 1.5% during the third quarter. Bank of America Corp DE now owns 30,799,504 shares of the exchange traded fund’s stock valued at $2,241,280,000 after buying an additional 456,140 shares in the last quarter. LPL Financial LLC lifted its stake in iShares Gold Trust by 1.5% in the 4th quarter. LPL Financial LLC now owns 13,742,286 shares of the exchange traded fund’s stock worth $1,115,461,000 after acquiring an additional 203,528 shares in the last quarter. Wells Fargo & Company MN boosted its position in iShares Gold Trust by 2.0% during the 4th quarter. Wells Fargo & Company MN now owns 13,136,955 shares of the exchange traded fund’s stock worth $1,066,327,000 after acquiring an additional 260,541 shares during the period. UBS Group AG boosted its position in iShares Gold Trust by 6.5% during the 3rd quarter. UBS Group AG now owns 9,148,055 shares of the exchange traded fund’s stock worth $665,704,000 after acquiring an additional 561,489 shares during the period. Finally, Citigroup Inc. grew its stake in 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 acquiring an additional 1,893,594 shares in the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.

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 Price Performance

NYSEARCA:IAU opened at $79.33 on Monday. The stock 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 fifty-two week low of $61.37 and a fifty-two week high of $104.40. The stock’s 50-day moving average is $85.56 and its two-hundred day moving average is $87.73.

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).