Tenet Wealth Partners LLC Purchases New Stake in iShares Gold Trust $IAU

Tenet Wealth Partners LLC acquired a new stake in shares of iShares Gold Trust (NYSEARCA:IAU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,252 shares of the exchange traded fund’s stock, valued at approximately $2,707,000. iShares Gold Trust comprises about 2.0% of Tenet Wealth Partners LLC’s portfolio, making the stock its 10th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in IAU. Merkkuri Wealth Advisors LLC bought a new position in shares of iShares Gold Trust during the first quarter worth about $26,000. Fairway Wealth LLC increased its holdings in iShares Gold Trust by 525.0% in 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. Godfrey Financial Associates Inc. acquired a new stake in iShares Gold Trust during the fourth quarter valued at approximately $25,000. Rossby Financial LCC raised its stake in 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 in the last quarter. Finally, Monetary Solutions Ltd bought a new position in iShares Gold Trust during the 4th quarter worth approximately $26,000. 59.67% of the stock is owned by institutional investors and hedge funds.

More iShares Gold Trust News

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

• Positive Sentiment: Gold has found some support after the initial selloff, with investors continuing to view the metal as a strategic allocation amid rising government debt, inflation concerns and instability in global bond markets. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold ETF demand could remain resilient despite higher yields because of inflation, fiscal and currency risks, while central banks continue accumulating bullion. The World Gold Council reported 23 net tonnes of central-bank purchases in July, led by China and Poland. Why Gold ETFs Could Keep Shining Despite Higher Rates
• Positive Sentiment: European reserve-management changes and geopolitical tensions are reinforcing gold’s appeal as a crisis asset. The Netherlands moved roughly 86 tons of gold from North America to London to improve crisis preparedness. Dutch central bank moves gold bars out of U.S. and Canada

iShares Gold Trust Trading Down 0.8%

Shares of IAU opened at $83.39 on Friday. The firm has a market cap of $68.87 billion, a price-to-earnings ratio of 5.53 and a beta of 0.19. The stock has a 50 day moving average of $79.73 and a 200-day moving average of $84.96. iShares Gold Trust has a 52 week low of $67.35 and a 52 week high of $104.40.

About iShares Gold Trust

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).