iShares Gold Trust $IAU Stock Acquired by Avaii Wealth Management LLC

Avaii Wealth Management LLC lifted its position in iShares Gold Trust (NYSEARCA:IAU) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,871 shares of the exchange traded fund’s stock after purchasing an additional 9,250 shares during the quarter. iShares Gold Trust makes up 3.0% of Avaii Wealth Management LLC’s investment portfolio, making the stock its 7th biggest holding. Avaii Wealth Management LLC’s holdings in iShares Gold Trust were worth $10,981,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Monetary Solutions Ltd purchased a new stake in iShares Gold Trust in the fourth quarter valued at approximately $26,000. Merkkuri Wealth Advisors LLC acquired a new stake in shares of iShares Gold Trust in the first quarter valued at approximately $26,000. Fairway Wealth LLC grew its position 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 worth $26,000 after acquiring an additional 252 shares during the last quarter. Dunhill Financial LLC grew its position in shares of iShares Gold Trust by 72.9% during the second quarter. Dunhill Financial LLC now owns 377 shares of the exchange traded fund’s stock worth $28,000 after acquiring an additional 159 shares during the last quarter. Finally, Harborfront Financial Group LLC acquired a new position in shares of iShares Gold Trust in the 2nd quarter valued at $28,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.

Key iShares Gold Trust News

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

• Positive Sentiment: Gold rebounded toward $4,200 per ounce as the U.S. dollar softened, Treasury yields pulled back from weekly extremes and investors engaged in bargain buying. That recovery is the main reason for IAU’s advance. Gold tests $4,200 as weak sentiment offsets sticky inflation expectations
• Positive Sentiment: U.S. consumer sentiment weakened to a preliminary October reading of 46.3, below expectations, while inflation expectations increased. Falling confidence and persistent inflation can support demand for gold as a defensive store of value. Gold price trades near high after preliminary Consumer Sentiment falls
• Positive Sentiment: Analysts cited softer yields, continued ETF inflows and potential ongoing purchases by China’s central bank as support for gold. Longer term, central-bank diversification away from dollar assets remains a bullish theme for IAU. Gold breaks $4,184 as softer yields and ETF inflows support recovery
• Positive Sentiment: Gold held support near $4,100 and technical analysts see a potential breakout above $4,200 that could signal a reversal of the recent downtrend. Gold price holds critical $4,100 support

iShares Gold Trust Trading Up 1.6%

IAU stock traded up $1.21 on Friday, hitting $78.87. The company’s stock had a trading volume of 2,877,760 shares, compared to its average volume of 9,302,176. The firm has a 50 day moving average of $81.48 and a two-hundred day moving average of $82.34. iShares Gold Trust has a 1 year low of $73.74 and a 1 year high of $104.40. The stock has a market cap of $62.20 billion, a price-to-earnings 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).