iShares Gold Trust $IAU Shares Purchased by Glenview Trust Co

Glenview Trust Co raised its stake in iShares Gold Trust (NYSEARCA:IAU) by 66.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,824 shares of the exchange traded fund’s stock after buying an additional 9,911 shares during the quarter. Glenview Trust Co’s holdings in iShares Gold Trust were worth $2,188,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of IAU. Florida Financial Advisors LLC raised its holdings in shares of iShares Gold Trust by 172.3% during the first quarter. Florida Financial Advisors LLC now owns 27,748 shares of the exchange traded fund’s stock valued at $2,446,000 after buying an additional 17,557 shares during the last quarter. Grant Street Asset Management Inc. grew its holdings in iShares Gold Trust by 901.1% in the 1st quarter. Grant Street Asset Management Inc. now owns 34,246 shares of the exchange traded fund’s stock worth $3,019,000 after buying an additional 30,825 shares in the last quarter. Cornerstone Advisors Asset Management LLC bought a new position in iShares Gold Trust in the 1st quarter worth approximately $415,000. Scarborough Advisors LLC acquired a new stake in iShares Gold Trust in the 1st quarter valued at approximately $2,464,000. Finally, Parallel Advisors LLC increased its position in iShares Gold Trust by 8.4% in the 1st quarter. Parallel Advisors LLC now owns 67,110 shares of the exchange traded fund’s stock valued at $5,916,000 after acquiring an additional 5,202 shares during the period. Institutional investors and hedge funds own 59.67% of the company’s stock.

More iShares Gold Trust News

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

• Positive Sentiment: Spot gold and silver surged as short covering and haven buying picked up, with traders shrugging off higher yields and a stronger dollar. Gold rallies as buyers ignore higher yields, oil shock – Kitco PM Report
• Positive Sentiment: Gold broke above key trend resistance, with technical traders watching for a potential breakout if momentum holds near the next resistance zone. Gold (XAU/USD) Price Forecast: Breakout Signals Point to Higher Prices
• Positive Sentiment: Analysts said central bank demand and continued physical buying, especially in Asia, may support gold over the long term. Central bank gold demand has ‘very long runway’ as East/West market split returns – Schroders
• Positive Sentiment: Some market strategists argue gold’s downside is becoming more limited after the recent selloff, while the long-term upside case remains intact. Gold’s risk/reward has flipped in investors’ favor despite rate hike fears, says Wells Fargo’s Samana
• Neutral Sentiment: Some commentary still points to a key tug-of-war: geopolitical risk is supportive, but rising yields, a firm dollar, and higher oil prices continue to cap gold’s upside. Gold rebounds as $4,000 support holds, silver leads metals higher – Kitco AM Report
• Negative Sentiment: Several reports note that higher-for-longer interest-rate expectations, rising Treasury yields, and dollar strength have been weighing on gold recently. Gold Falls Amid Higher-For-Longer Interest-Rate Expectations

iShares Gold Trust Stock Up 2.0%

Shares of NYSEARCA IAU opened at $76.82 on Wednesday. iShares Gold Trust has a fifty-two week low of $61.60 and a fifty-two week high of $104.40. The firm’s 50-day simple moving average is $80.18 and its 200 day simple moving average is $86.97. The stock has a market cap of $63.45 billion, a P/E ratio of 5.53 and a beta of 0.18.

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).