Brookstone Capital Management Decreases Stock Holdings in iShares Gold Trust $IAU

Brookstone Capital Management decreased its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 14.3% during the first quarter, Holdings Channel reports. The firm owned 248,381 shares of the exchange traded fund’s stock after selling 41,391 shares during the quarter. Brookstone Capital Management’s holdings in iShares Gold Trust were worth $21,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wills Financial Group LLC raised its position in iShares Gold Trust by 9.8% in the fourth quarter. Wills Financial Group LLC now owns 147,134 shares of the exchange traded fund’s stock worth $11,943,000 after acquiring an additional 13,093 shares during the period. Hudson Oak Wealth Advisory LLC purchased a new position in shares of iShares Gold Trust during the 4th quarter worth $1,725,000. Allianz SE grew its position in shares of iShares Gold Trust by 2.8% during the 3rd quarter. Allianz SE now owns 1,186,632 shares of the exchange traded fund’s stock valued at $86,351,000 after acquiring an additional 32,341 shares during the period. Advisory Services Network LLC grew its position in shares of iShares Gold Trust by 20.3% during the 3rd quarter. Advisory Services Network LLC now owns 207,238 shares of the exchange traded fund’s stock valued at $15,081,000 after acquiring an additional 35,018 shares during the period. Finally, Mill Creek Capital Advisors LLC grew its position in shares of iShares Gold Trust by 2.9% during the 3rd quarter. Mill Creek Capital Advisors LLC now owns 203,287 shares of the exchange traded fund’s stock valued at $14,793,000 after acquiring an additional 5,749 shares during the period. 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 one year low of $61.37 and a one year high of $104.40. The business has a fifty day moving average price of $85.56 and a 200-day moving average price of $87.73. The firm has a market capitalization of $67.54 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15.

Key iShares Gold Trust News

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

About iShares Gold Trust

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).