Beacon Financial Group Sells 56,542 Shares of iShares Gold Trust $IAU

Beacon Financial Group lessened its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 55.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,755 shares of the exchange traded fund’s stock after selling 56,542 shares during the quarter. Beacon Financial Group’s holdings in iShares Gold Trust were worth $3,946,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Godfrey Financial Associates Inc. bought a new position in shares of iShares Gold Trust in the fourth quarter valued at approximately $25,000. Monetary Solutions Ltd purchased a new position in iShares Gold Trust during the fourth quarter valued at approximately $26,000. Merkkuri Wealth Advisors LLC bought a new stake in iShares Gold Trust during the 1st quarter worth approximately $26,000. Fairway Wealth LLC increased its holdings in iShares Gold Trust by 525.0% during the 1st quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock worth $26,000 after acquiring an additional 252 shares during the period. Finally, Rossby Financial LCC lifted its stake in iShares Gold Trust by 75.7% in the 4th quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. 59.67% of the stock is currently owned by institutional investors.

Key Stories Impacting iShares Gold Trust

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

• Positive Sentiment: Gold rebounded above $4,100/oz as Middle East tensions, safe-haven demand, and better-than-expected jobless claims supported prices. Spot gold trades above $4,100/oz as U.S. weekly jobless claims hold at 215k
• Positive Sentiment: Analysts say gold still belongs in portfolios, and that recent weakness may be a buying opportunity as long-term commodity demand stays intact. Gold still belongs in portfolios, but AI and the green transition are creating bigger opportunities elsewhere in commodities – FTSE Russell
• Positive Sentiment: Some strategists view the recent gold selloff as a pause in a secular bull market, noting that bullion and miners may be undervalued after the pullback. Gold’s selloff is just a pause in a secular bull market, miners now undervalued – Ninepoint’s Wachowiak
• Neutral Sentiment: Gold may stay rangebound through the summer if hawkish Fed policy, firm Treasury yields, and a strong dollar continue to cap upside. Gold prices will be rangebound through the summer – Metals Focus
• Neutral Sentiment: Technical traders say gold is trying to reverse higher, but confirmation still depends on reclaiming key resistance levels. Gold (XAU/USD) Price Forecast: Bullish Reversal Tests Key Resistance Levels
• Negative Sentiment: Hawkish Fed minutes, higher yields, and rising oil prices have pressured gold at times this week, showing that macro headwinds are still in play. Gold slides as Fed minutes, Hormuz oil spike lift yields – Kitco PM Report
• Negative Sentiment: ETF outflows and fears of a prolonged “death cross” suggest some investors are still reducing gold exposure. Investors flee gold ETFs in June as hawkish Fed expectations drive liquidation

iShares Gold Trust Price Performance

Shares of NYSEARCA:IAU opened at $77.51 on Friday. The firm has a fifty day moving average price of $82.05 and a two-hundred day moving average price of $87.39. The company has a market cap of $64.02 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a one year low of $61.60 and a one year high of $104.40.

iShares Gold Trust 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).