Pennsylvania State University Trims Stake in iShares Gold Trust $IAU

Pennsylvania State University lessened its holdings in iShares Gold Trust (NYSEARCA:IAU) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,574,099 shares of the exchange traded fund’s stock after selling 157,233 shares during the quarter. iShares Gold Trust makes up about 72.5% of Pennsylvania State University’s investment portfolio, making the stock its largest holding. Pennsylvania State University’s holdings in iShares Gold Trust were worth $138,773,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new position in shares of iShares Gold Trust in the 4th quarter valued at about $25,000. Monetary Solutions Ltd acquired a new stake in iShares Gold Trust during the fourth quarter worth about $26,000. Merkkuri Wealth Advisors LLC acquired a new stake in iShares Gold Trust during the first quarter worth about $26,000. Fairway Wealth LLC raised its stake in iShares Gold Trust by 525.0% during the first quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock worth $26,000 after acquiring an additional 252 shares during the period. Finally, Rossby Financial LCC lifted its holdings in iShares Gold Trust by 75.7% in the fourth quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock worth $26,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 0.1%

Shares of IAU stock opened at $76.23 on Friday. The business has a 50 day moving average of $79.55 and a two-hundred day moving average of $86.83. iShares Gold Trust has a 52 week low of $61.60 and a 52 week high of $104.40. The company has a market cap of $62.96 billion, a P/E ratio of 5.53 and a beta of 0.18.

Trending Headlines about iShares Gold Trust

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

• Positive Sentiment: Gold held critical support near $4,000 for the fifth straight week, which analysts say could mark an inflection point for a bullish turn. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports hit a fresh two-year high as lower prices boosted demand in the world’s largest bullion market. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Gold rebounded as Treasury yields eased and oil prices pulled back, both of which can improve the appeal of non-yielding assets like gold. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Neutral Sentiment: Several reports say gold is still stuck in a consolidation range, with strong U.S. economic data and firm yields limiting a sustained breakout. Gold stuck in neutral as S&P Global highlights healthy US PMI activity
• Neutral Sentiment: BlackRock’s Koesterich said investors should still keep a modest gold allocation, even though near-term downside risks remain. Investors should still hold a modest amount of gold – BlackRock’s Koesterich
• Negative Sentiment: Gold also faced pressure from higher Treasury yields, a firmer U.S. dollar, and resilient labor-market data, which have recently capped rebounds. Gold holds above $4,020 as Fed-rate risk caps rebound – Kitco AM Report

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).