iShares Gold Trust $IAU Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. trimmed its holdings in iShares Gold Trust (NYSEARCA:IAU) by 8.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 65,832 shares of the exchange traded fund’s stock after selling 6,280 shares during the period. iShares Gold Trust makes up 2.7% of FDx Advisors Inc.’s portfolio, making the stock its 11th biggest holding. FDx Advisors Inc.’s holdings in iShares Gold Trust were worth $5,344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cercano Management LLC boosted its stake in iShares Gold Trust by 731.0% in the 4th quarter. Cercano Management LLC now owns 497,522 shares of the exchange traded fund’s stock worth $40,384,000 after buying an additional 437,653 shares during the last quarter. COFG Advisors LLC acquired a new stake in iShares Gold Trust in the 4th quarter worth about $661,000. Sage Investment Advisers LLC acquired a new stake in iShares Gold Trust in the 4th quarter worth about $6,317,000. Gill Capital Partners LLC purchased a new position in shares of iShares Gold Trust in the 4th quarter worth $207,000. Finally, Swisher Financial Concepts Inc. boosted its holdings in iShares Gold Trust by 7.7% in the fourth quarter. Swisher Financial Concepts Inc. now owns 14,068 shares of the exchange traded fund’s stock valued at $1,142,000 after acquiring an additional 1,009 shares during the last quarter. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust Price Performance

iShares Gold Trust stock opened at $84.27 on Tuesday. The stock’s 50-day moving average is $87.07 and its 200-day moving average is $87.43. The company has a market cap of $71.74 billion, a price-to-earnings ratio of 5.53 and a beta of 0.16. iShares Gold Trust has a 12 month low of $61.37 and a 12 month high of $104.40.

Key iShares Gold Trust News

Here are the key news stories impacting iShares Gold Trust this week:

• Negative Sentiment: Spot gold slipped after the U.S. manufacturing PMI rose to 54 in May, reinforcing the view that the economy remains resilient and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar weighed on precious metals, making gold less attractive to investors in the near term. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Retreats Amid Rising Treasury Yields
• Negative Sentiment: Reports that Iran-related geopolitical tensions were easing intermittently and that crude oil was jumping shifted some demand away from gold’s safe-haven trade. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Neutral Sentiment: Some commentary remains constructive on gold’s longer-term outlook because inflation, debt, and policy uncertainty could still support demand over time. Fed trapped between inflation and debt crisis, and gold wins either way – Sprott’s McIntyre

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).