Bank of New York Mellon Corp Cuts Stake in iShares Gold Trust $IAU

Bank of New York Mellon Corp reduced its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 23.3% during the first quarter, Holdings Channel reports. The fund owned 1,690,480 shares of the exchange traded fund’s stock after selling 513,881 shares during the period. Bank of New York Mellon Corp’s holdings in iShares Gold Trust were worth $149,033,000 at the end of the most recent reporting period.

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

iShares Gold Trust Price Performance

iShares Gold Trust stock opened at $75.50 on Monday. The company has a market capitalization of $62.36 billion, a PE ratio of 5.53 and a beta of 0.18. The firm has a fifty day simple moving average of $80.69 and a two-hundred day simple moving average of $87.04. iShares Gold Trust has a twelve month low of $61.60 and a twelve month high of $104.40.

iShares Gold Trust News Summary

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

• Neutral Sentiment: Gold is trying to hold the $4,000 level after a sharp pullback, with next week likely to determine whether that area becomes a firm support zone or gives way to more downside. Markets will find out next week how firm $4,000 is as a floor for gold
• Neutral Sentiment: Fresh U.S. data, including better consumer sentiment and stronger housing starts, has eased some recession fears and reduced the immediate safe-haven bid for gold. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Negative Sentiment: Technical analysts say bearish momentum is building, with gold breaking trend support and key downside levels now in focus. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar have been repeatedly cited as headwinds for gold, pressuring prices below the key $4,000 mark. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report

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).