Entelevest LLC Invests $642,000 in iShares Gold Trust $IAU

Entelevest LLC purchased a new position in shares of iShares Gold Trust (NYSEARCA:IAU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,907 shares of the exchange traded fund’s stock, valued at approximately $642,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Schmidt P J Investment Management Inc. boosted its position in shares of iShares Gold Trust by 1.1% during the 4th quarter. Schmidt P J Investment Management Inc. now owns 9,362 shares of the exchange traded fund’s stock worth $760,000 after purchasing an additional 106 shares during the period. Foster Group Inc. boosted its position in shares of iShares Gold Trust by 2.4% during the 4th quarter. Foster Group Inc. now owns 5,126 shares of the exchange traded fund’s stock worth $416,000 after purchasing an additional 120 shares during the period. Nemes Rush Group LLC boosted its position in shares of iShares Gold Trust by 1.9% during the 4th quarter. Nemes Rush Group LLC now owns 6,982 shares of the exchange traded fund’s stock worth $567,000 after purchasing an additional 130 shares during the period. Two West Capital Advisors LLC boosted its position in shares of iShares Gold Trust by 1.9% during the 4th quarter. Two West Capital Advisors LLC now owns 7,035 shares of the exchange traded fund’s stock worth $571,000 after purchasing an additional 132 shares during the period. Finally, Focused Wealth Management Inc boosted its position in shares of iShares Gold Trust by 3.4% during the 4th quarter. Focused Wealth Management Inc now owns 4,063 shares of the exchange traded fund’s stock worth $330,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $76.79 on Thursday. The stock has a market capitalization of $65.38 billion, a P/E ratio of 5.53 and a beta of 0.15. The company has a 50 day moving average price of $86.75 and a 200 day moving average price of $87.65. iShares Gold Trust has a fifty-two week low of $61.37 and a fifty-two week high of $104.40.

More iShares Gold Trust News

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

• Negative Sentiment: Spot gold has weakened materially after the latest CPI report, with traders pricing in a less dovish Fed path and higher-for-longer rates weighing on bullion. Gold, silver fall as CPI keeps Fed pressure on – Kitco AM Report
• Negative Sentiment: Technical breakdowns in gold below key support levels, including the 200-day moving average, are signaling the potential for further downside in the metal and related ETFs. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Negative Sentiment: Several market updates suggest the selling in gold may continue if real yields stay elevated and investors keep rotating away from safe-haven metals. As gold’s tumble continues, traders bet the pain may last for two more years
• Neutral Sentiment: Some analysts still argue gold remains in a longer-term bull market, but they say the near-term trend is still weak and vulnerable to further volatility. Gold price could triple if 1970s bull market pattern holds, says Jeff Clark
• Neutral Sentiment: Recent commentary on GLD versus IAU is mainly educational, but it reinforces that IAU is a low-cost vehicle that closely tracks the spot price of gold, so weakness in bullion directly affects the fund. GLD vs. IAU: Which Gold ETF Costs You Less Over Time?

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).