Fortune Financial Group Inc. Purchases New Shares in iShares Gold Trust $IAU

Fortune Financial Group Inc. purchased a new stake in shares of iShares Gold Trust (NYSEARCA:IAU) in the fourth quarter, Holdings Channel.com reports. The fund purchased 7,393 shares of the exchange traded fund’s stock, valued at approximately $618,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IAU. Brighton Jones LLC acquired a new stake in iShares Gold Trust during the 4th quarter valued at $1,864,000. Bison Wealth LLC increased its holdings in iShares Gold Trust by 78.5% during the 4th quarter. Bison Wealth LLC now owns 16,778 shares of the exchange traded fund’s stock valued at $831,000 after purchasing an additional 7,379 shares in the last quarter. AQR Capital Management LLC increased its holdings in iShares Gold Trust by 47.0% during the 1st quarter. AQR Capital Management LLC now owns 26,936 shares of the exchange traded fund’s stock valued at $1,588,000 after purchasing an additional 8,609 shares in the last quarter. Glenview Trust co lifted its position in shares of iShares Gold Trust by 9.7% during the second quarter. Glenview Trust co now owns 12,384 shares of the exchange traded fund’s stock worth $772,000 after purchasing an additional 1,095 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its position in shares of iShares Gold Trust by 6.3% during the second quarter. Main Street Financial Solutions LLC now owns 36,817 shares of the exchange traded fund’s stock worth $2,296,000 after purchasing an additional 2,172 shares in the last quarter. 59.67% of the stock is owned by institutional investors and hedge funds.

iShares Gold Trust News Roundup

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

• Negative Sentiment: Spot gold has weakened materially after the latest CPI report, with traders pricing in a less dovish Fed path and higher-for-longer rates weighing on bullion. Gold, silver fall as CPI keeps Fed pressure on – Kitco AM Report
• Negative Sentiment: Technical breakdowns in gold below key support levels, including the 200-day moving average, are signaling the potential for further downside in the metal and related ETFs. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Negative Sentiment: Several market updates suggest the selling in gold may continue if real yields stay elevated and investors keep rotating away from safe-haven metals. As gold’s tumble continues, traders bet the pain may last for two more years
• Neutral Sentiment: Some analysts still argue gold remains in a longer-term bull market, but they say the near-term trend is still weak and vulnerable to further volatility. Gold price could triple if 1970s bull market pattern holds, says Jeff Clark
• Neutral Sentiment: Recent commentary on GLD versus IAU is mainly educational, but it reinforces that IAU is a low-cost vehicle that closely tracks the spot price of gold, so weakness in bullion directly affects the fund. GLD vs. IAU: Which Gold ETF Costs You Less Over Time?

iShares Gold Trust Trading Down 4.1%

Shares of IAU stock opened at $76.79 on Thursday. iShares Gold Trust has a 1 year low of $61.37 and a 1 year high of $104.40. The firm’s 50 day moving average is $86.75 and its 200-day moving average is $87.65. The firm has a market capitalization of $65.38 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15.

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).