8,092 Shares in iShares Gold Trust $IAU Bought by McAlvany Wealth Management LLC

McAlvany Wealth Management LLC bought a new position in shares of iShares Gold Trust (NYSEARCA:IAU) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 8,092 shares of the exchange traded fund’s stock, valued at approximately $657,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Godfrey Financial Associates Inc. acquired a new stake in shares of iShares Gold Trust during the fourth quarter worth about $25,000. Monetary Solutions Ltd bought a new position in shares of iShares Gold Trust during the 4th quarter valued at about $26,000. Rossby Financial LCC grew its position in shares of iShares Gold Trust by 75.7% in the 4th quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Gables Capital Management Inc. grew its position in shares of iShares Gold Trust by 173.1% in the 4th quarter. Gables Capital Management Inc. now owns 355 shares of the exchange traded fund’s stock valued at $29,000 after purchasing an additional 225 shares during the period. Finally, Motiv8 Investments LLC bought a new stake in iShares Gold Trust during the 4th quarter worth approximately $29,000. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust News Summary

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

• Negative Sentiment: Gold prices weakened after the Fed signaled a higher-for-longer rate stance, with some traders now pricing in the possibility of at least one rate hike later this year. Hawkish Fed keeps pressure on gold as physical premiums soften – Kitco PM Report
• Negative Sentiment: Multiple market outlooks point to gold testing key support levels, with analysts warning the metal could retest the $4,000 area if bearish momentum continues. Gold (XAU/USD) Price Forecast: Support Test Could Shape Next Major Move
• Negative Sentiment: Stronger U.S. labor and manufacturing data, along with a firmer dollar, added to the pressure on precious metals and reinforced the shift away from defensive gold positioning. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June

iShares Gold Trust Stock Performance

Shares of IAU stock opened at $79.33 on Friday. The company has a market capitalization of $67.54 billion, a P/E ratio of 5.53 and a beta of 0.15. The company’s 50 day moving average price is $85.56 and its two-hundred day moving average price is $87.67. iShares Gold Trust has a 52 week low of $61.37 and a 52 week high of $104.40.

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).