Grove Bank & Trust Grows Holdings in iShares Gold Trust $IAU

Grove Bank & Trust increased its holdings in iShares Gold Trust (NYSEARCA:IAU) by 16.5% during the third quarter, Holdings Channel.com reports. The firm owned 182,412 shares of the exchange traded fund’s stock after acquiring an additional 25,794 shares during the quarter. iShares Gold Trust accounts for 1.4% of Grove Bank & Trust’s investment portfolio, making the stock its 16th largest holding. Grove Bank & Trust’s holdings in iShares Gold Trust were worth $14,246,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Monetary Solutions Ltd bought a new position in shares of iShares Gold Trust during the fourth quarter valued at about $26,000. Merkkuri Wealth Advisors LLC purchased a new position in shares of iShares Gold Trust in the first quarter worth about $26,000. Fairway Wealth LLC lifted its stake in shares of iShares Gold Trust by 525.0% in the 1st quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after acquiring an additional 252 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of iShares Gold Trust by 72.9% in the 2nd quarter. Dunhill Financial LLC now owns 377 shares of the exchange traded fund’s stock valued at $28,000 after acquiring an additional 159 shares during the last quarter. Finally, Harborfront Financial Group LLC purchased a new stake in iShares Gold Trust during the 2nd quarter valued at about $28,000. 59.67% of the stock is owned by institutional investors.

iShares Gold Trust Stock Performance

IAU traded up $0.60 on Thursday, hitting $77.66. 3,212,084 shares of the company were exchanged, compared to its average volume of 9,335,368. The firm has a fifty day simple moving average of $81.47 and a two-hundred day simple moving average of $82.39. iShares Gold Trust has a 12 month low of $73.74 and a 12 month high of $104.40. The stock has a market capitalization of $61.24 billion, a PE ratio of 5.53 and a beta of 0.18.

Key Stories Impacting iShares Gold Trust

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

• Positive Sentiment: Gold is finding support as Treasury yields pull back and the U.S. dollar weakens, improving the appeal of non-yielding bullion and supporting IAU. Gold, Silver, Platinum Forecasts – Gold Attempts To Rebound as Treasury Yields Pull Back
• Positive Sentiment: Sprott’s Kenny Zhu said gold’s ability to hold its trading range and attract fresh ETF inflows despite elevated bond yields signals underlying demand. He also cited central banks’ continued shift away from dollar assets as a longer-term bullish factor. Gold Gains Ground as Central Banks Retreat from Dollar Assets and Inflation Undermines Bonds
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, its largest monthly purchase in three years and the 23rd consecutive month of reserve increases. Continued official-sector buying provides structural support for bullion and IAU. China’s Central Bank Buys 21 Tonnes of Gold in September
• Neutral Sentiment: Gold is testing major technical support near $4,100-$4,103. A double bottom or bullish wedge breakout could trigger a recovery, while a decisive breach would signal additional downside risk for IAU. Gold Price Forecast: $4,103 Support Holds Key to Next Move
• Negative Sentiment: Federal Reserve signals that another rate increase remains possible, while stronger-than-expected jobless-claims data reinforces the case for higher-for-longer rates. Rising yields and a stronger dollar increase the opportunity cost of holding gold. Gold Just Fell to a Two-Month Low as the Fed Signals Another Hike
• Negative Sentiment: Recent reports describe a deepening correction, with gold pressured by elevated rates, a firm dollar and resistance near-term. Failure of the $4,100 support zone could weigh on IAU. Gold and Silver Price Forecast: Fed Minutes Weigh

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).