Grant Street Asset Management Inc. Increases Stock Holdings in iShares Gold Trust $IAU

Grant Street Asset Management Inc. increased its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 901.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,246 shares of the exchange traded fund’s stock after buying an additional 30,825 shares during the quarter. iShares Gold Trust comprises approximately 0.6% of Grant Street Asset Management Inc.’s portfolio, making the stock its 17th biggest holding. Grant Street Asset Management Inc.’s holdings in iShares Gold Trust were worth $3,019,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Advisors Asset Management LLC acquired a new stake in shares of iShares Gold Trust in the first quarter worth approximately $415,000. Scarborough Advisors LLC acquired a new position in iShares Gold Trust during the first quarter worth approximately $2,464,000. Parallel Advisors LLC raised its stake in iShares Gold Trust by 8.4% during the first quarter. Parallel Advisors LLC now owns 67,110 shares of the exchange traded fund’s stock worth $5,916,000 after purchasing an additional 5,202 shares during the period. Eurizon Asset Management Hungary Ltd. purchased a new position in iShares Gold Trust during the first quarter worth approximately $42,494,000. Finally, Crescent Grove Advisors LLC raised its stake in iShares Gold Trust by 4.2% during the first quarter. Crescent Grove Advisors LLC now owns 99,418 shares of the exchange traded fund’s stock worth $8,765,000 after purchasing an additional 3,985 shares during the period. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust Price Performance

Shares of IAU opened at $75.50 on Monday. iShares Gold Trust has a fifty-two week low of $61.60 and a fifty-two week high of $104.40. The company’s fifty day moving average is $80.69 and its two-hundred day moving average is $87.04. The firm has a market cap of $62.36 billion, a PE ratio of 5.53 and a beta of 0.18.

iShares Gold Trust News Roundup

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

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).