Assetmark Inc. Has $74.32 Million Stake in iShares Gold Trust $IAU

Assetmark Inc. lessened its position in iShares Gold Trust (NYSEARCA:IAU) by 19.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 843,005 shares of the exchange traded fund’s stock after selling 201,308 shares during the period. Assetmark Inc.’s holdings in iShares Gold Trust were worth $74,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IAU. Godfrey Financial Associates Inc. bought a new position in iShares Gold Trust in the 4th quarter valued at approximately $25,000. Monetary Solutions Ltd bought a new stake in iShares Gold Trust during the 4th quarter worth approximately $26,000. Merkkuri Wealth Advisors LLC bought a new stake in iShares Gold Trust during the 1st quarter worth approximately $26,000. Fairway Wealth LLC increased its position in iShares Gold Trust by 525.0% in the 1st quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after acquiring an additional 252 shares during the period. Finally, Rossby Financial LCC increased its position in 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 acquiring an additional 140 shares during the period. 59.67% of the stock is currently owned by institutional investors.

Key Stories Impacting iShares Gold Trust

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

iShares Gold Trust Stock Performance

Shares of NYSEARCA:IAU opened at $75.50 on Friday. 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 has a 52 week low of $61.60 and a 52 week high of $104.40. The firm’s fifty day moving average is $80.69 and its 200-day moving average is $87.01.

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).