Sterling Financial Planning Inc. Cuts Holdings in iShares Gold Trust $IAU

Sterling Financial Planning Inc. lowered its holdings in iShares Gold Trust (NYSEARCA:IAU) by 8.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 235,289 shares of the exchange traded fund’s stock after selling 22,640 shares during the quarter. iShares Gold Trust accounts for about 6.2% of Sterling Financial Planning Inc.’s holdings, making the stock its biggest position. Sterling Financial Planning Inc.’s holdings in iShares Gold Trust were worth $20,743,000 as of its most recent filing with the Securities and Exchange Commission.

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

iShares Gold Trust Price Performance

NYSEARCA:IAU opened at $75.50 on Friday. iShares Gold Trust has a one year low of $61.60 and a one year high of $104.40. The company has a market cap of $62.36 billion, a PE ratio of 5.53 and a beta of 0.18. The firm has a 50-day moving average of $80.69 and a 200-day moving average of $87.01.

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 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).