COFG Advisors LLC Makes New $661,000 Investment in iShares Gold Trust $IAU

COFG Advisors LLC bought a new position in iShares Gold Trust (NYSEARCA:IAU) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,149 shares of the exchange traded fund’s stock, valued at approximately $661,000.

Several other institutional investors and hedge funds have also bought and sold shares of IAU. Brighton Jones LLC purchased a new stake in iShares Gold Trust in the 4th quarter worth approximately $1,864,000. Bison Wealth LLC lifted its stake in iShares Gold Trust by 78.5% in the 4th quarter. Bison Wealth LLC now owns 16,778 shares of the exchange traded fund’s stock worth $831,000 after purchasing an additional 7,379 shares in the last quarter. AQR Capital Management LLC lifted its stake in iShares Gold Trust by 47.0% in the 1st quarter. AQR Capital Management LLC now owns 26,936 shares of the exchange traded fund’s stock worth $1,588,000 after purchasing an additional 8,609 shares in the last quarter. Glenview Trust co lifted its stake in iShares Gold Trust by 9.7% in the 2nd quarter. Glenview Trust co now owns 12,384 shares of the exchange traded fund’s stock worth $772,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its stake in iShares Gold Trust by 6.3% in 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 purchasing an additional 2,172 shares in the last quarter. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust News Roundup

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

• Negative Sentiment: Spot gold slipped after the U.S. manufacturing PMI rose to 54 in May, reinforcing the view that the economy remains resilient and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar weighed on precious metals, making gold less attractive to investors in the near term. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats Amid Rising Treasury Yields
• Negative Sentiment: Reports that Iran-related geopolitical tensions were easing intermittently and that crude oil was jumping shifted some demand away from gold’s safe-haven trade. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Neutral Sentiment: Some commentary remains constructive on gold’s longer-term outlook because inflation, debt, and policy uncertainty could still support demand over time. Fed trapped between inflation and debt crisis, and gold wins either way – Sprott’s McIntyre

iShares Gold Trust Price Performance

NYSEARCA IAU opened at $84.27 on Tuesday. iShares Gold Trust has a 1 year low of $61.37 and a 1 year high of $104.40. The stock has a market capitalization of $71.74 billion, a PE ratio of 5.53 and a beta of 0.16. The company’s 50 day simple moving average is $87.07 and its two-hundred day simple moving average is $87.43.

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).