Forza Wealth Management LLC Cuts Stock Holdings in iShares Gold Trust $IAU

Forza Wealth Management LLC lessened its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 5.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 197,403 shares of the exchange traded fund’s stock after selling 11,360 shares during the quarter. iShares Gold Trust comprises approximately 6.1% of Forza Wealth Management LLC’s holdings, making the stock its largest position. Forza Wealth Management LLC’s holdings in iShares Gold Trust were worth $17,403,000 as of its most recent SEC filing.

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

iShares Gold Trust Trading Up 1.0%

IAU stock opened at $77.51 on Friday. The firm’s 50-day moving average is $82.05 and its two-hundred day moving average is $87.39. The company has a market capitalization of $64.02 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a 52 week low of $61.60 and a 52 week high of $104.40.

Trending Headlines about 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 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).