Bessemer Group Inc. Acquires 7,419 Shares of iShares Gold Trust $IAU

Bessemer Group Inc. increased its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,550 shares of the exchange traded fund’s stock after buying an additional 7,419 shares during the period. Bessemer Group Inc.’s holdings in iShares Gold Trust were worth $8,777,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Schmidt P J Investment Management Inc. increased its position in iShares Gold Trust by 1.1% in the 4th quarter. Schmidt P J Investment Management Inc. now owns 9,362 shares of the exchange traded fund’s stock valued at $760,000 after acquiring an additional 106 shares during the period. Foster Group Inc. raised its stake in shares of iShares Gold Trust by 2.4% during the fourth quarter. Foster Group Inc. now owns 5,126 shares of the exchange traded fund’s stock valued at $416,000 after acquiring an additional 120 shares during the last quarter. Haverford Trust Co lifted its holdings in shares of iShares Gold Trust by 3.4% during the fourth quarter. Haverford Trust Co now owns 3,617 shares of the exchange traded fund’s stock worth $294,000 after purchasing an additional 120 shares during the period. Evolution Wealth Management Inc. lifted its holdings in shares of iShares Gold Trust by 40.3% during the first quarter. Evolution Wealth Management Inc. now owns 432 shares of the exchange traded fund’s stock worth $38,000 after purchasing an additional 124 shares during the period. Finally, Brooks Moore & Associates Inc. grew its stake in shares of iShares Gold Trust by 2.1% in the fourth quarter. Brooks Moore & Associates Inc. now owns 6,076 shares of the exchange traded fund’s stock worth $493,000 after purchasing an additional 125 shares during the last quarter. 59.67% of the stock is currently owned by institutional investors and hedge funds.

Key iShares Gold Trust News

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 Price Performance

NYSEARCA IAU opened at $75.50 on Monday. The company has a market capitalization of $62.36 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a twelve month low of $61.60 and a twelve month high of $104.40. The stock has a fifty day simple moving average of $80.69 and a 200 day simple moving average of $87.04.

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).