Eurizon Asset Management Hungary Ltd. acquired a new position in shares of iShares Gold Trust (NYSEARCA:IAU – Free Report) in the 1st quarter, Holdings Channel reports. The fund acquired 482,015 shares of the exchange traded fund’s stock, valued at approximately $42,494,000. iShares Gold Trust makes up 45.6% of Eurizon Asset Management Hungary Ltd.’s investment portfolio, making the stock its biggest position.
Other large investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC raised its stake in iShares Gold Trust by 381.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock worth $205,744,000 after acquiring an additional 2,008,288 shares during the last quarter. Citigroup Inc. grew its stake in iShares Gold Trust by 35.7% during the 4th quarter. Citigroup Inc. now owns 7,201,313 shares of the exchange traded fund’s stock valued at $584,531,000 after purchasing an additional 1,893,594 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of iShares Gold Trust by 18.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,595,990 shares of the exchange traded fund’s stock valued at $535,396,000 after purchasing an additional 1,019,135 shares during the period. Orion Porfolio Solutions LLC increased its holdings in shares of iShares Gold Trust by 503.7% in the second quarter. Orion Porfolio Solutions LLC now owns 930,318 shares of the exchange traded fund’s stock valued at $58,015,000 after purchasing an additional 776,215 shares during the period. Finally, VCU Investment Management Co purchased a new position in shares of iShares Gold Trust in the fourth quarter worth about $61,835,000. 59.67% of the stock is owned by hedge funds and other institutional investors.
iShares Gold Trust Price Performance
iShares Gold Trust stock opened at $75.50 on Monday. iShares Gold Trust has a 52 week low of $61.60 and a 52 week high of $104.40. The company has a market capitalization of $62.36 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. The stock has a 50-day moving average price of $80.69 and a 200 day moving average price of $87.04.
Key iShares Gold Trust News
- 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).
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