iShares Gold Trust $IAU Stock: Wedbush Securities Inc. Reduces Holdings

Wedbush Securities Inc. trimmed its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 31.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,444 shares of the exchange traded fund’s stock after selling 17,417 shares during the period. Wedbush Securities Inc.’s holdings in iShares Gold Trust were worth $2,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IAU. RFG Advisory LLC increased its position in shares of iShares Gold Trust by 35.8% during the second quarter. RFG Advisory LLC now owns 38,956 shares of the exchange traded fund’s stock worth $2,942,000 after acquiring an additional 10,263 shares during the period. Wealth Care LLC acquired a new stake in shares of iShares Gold Trust in the first quarter valued at $9,270,000. Acorn Financial Advisory Services Inc. ADV raised its stake in shares of iShares Gold Trust by 3.1% in the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 483,758 shares of the exchange traded fund’s stock valued at $42,648,000 after acquiring an additional 14,344 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in iShares Gold Trust by 70.2% in the third quarter. Robertson Stephens Wealth Management LLC now owns 32,722 shares of the exchange traded fund’s stock valued at $2,556,000 after purchasing an additional 13,497 shares during the period. Finally, Contango Wealth Management LLC increased its holdings in iShares Gold Trust by 136.0% during the 1st quarter. Contango Wealth Management LLC now owns 18,787 shares of the exchange traded fund’s stock worth $1,656,000 after purchasing an additional 10,826 shares during the period. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about iShares Gold Trust

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

• Positive Sentiment: Gold received some support from falling Treasury yields, which can reduce the opportunity cost of holding a non-yielding asset. Gold also rebounded from the $4,000 area, suggesting that level is attracting buyers. Gold Defends $4,000 After Bounce as Fed Signals Take Center Stage
• Positive Sentiment: Inflation expectations increased in the University of Michigan’s October survey, potentially supporting longer-term demand for gold as an inflation hedge. However, consumer sentiment was broadly steady and above expectations. Gold price trades near $4,000/oz after final Consumer Sentiment holds steady

iShares Gold Trust Stock Down 0.7%

Shares of NYSEARCA:IAU opened at $75.15 on Friday. The firm’s 50 day moving average price is $80.90 and its 200 day moving average price is $81.74. The stock has a market cap of $59.26 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a fifty-two week low of $73.74 and a fifty-two week high of $104.40.

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).