Kovack Advisors Inc. Acquires 75,271 Shares of iShares Gold Trust $IAU

Kovack Advisors Inc. grew its holdings in iShares Gold Trust (NYSEARCA:IAU) by 1,024.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 82,621 shares of the exchange traded fund’s stock after purchasing an additional 75,271 shares during the period. Kovack Advisors Inc.’s holdings in iShares Gold Trust were worth $6,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Abich Financial Wealth Management LLC bought a new stake in iShares Gold Trust during the 3rd quarter worth $25,000. Godfrey Financial Associates Inc. bought a new stake in iShares Gold Trust during the 4th quarter worth $25,000. Gables Capital Management Inc. grew its position in iShares Gold Trust by 173.1% during the 4th quarter. Gables Capital Management Inc. now owns 355 shares of the exchange traded fund’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Dakota Community Bank & Trust NA bought a new stake in iShares Gold Trust during the 4th quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in iShares Gold Trust during the 3rd quarter worth $31,000. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Up 3.0%

Shares of IAU stock opened at $79.13 on Friday. The firm has a market capitalization of $67.37 billion, a P/E ratio of 5.53 and a beta of 0.15. iShares Gold Trust has a twelve month low of $61.37 and a twelve month high of $104.40. The stock’s fifty day simple moving average is $86.57 and its 200 day simple moving average is $87.67.

Key Stories Impacting iShares Gold Trust

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

• Positive Sentiment: Gold is attempting to rebound after a steep sell-off, with traders watching for a potential bottom near major support. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Attempts To Rebound After Strong Sell-Off
• Positive Sentiment: Some analysts argue the pullback does not break gold’s long-term bull case, noting that the metal is holding above key support. Don’t fear a drop below $4,000, gold’s bull market isnt broken – Thorsten Polleit
• Neutral Sentiment: Gold is testing a major support zone, and a reversal could form if the undercut-and-run setup holds. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
• Negative Sentiment: Recent U.S. inflation data and higher-for-longer rate expectations are weighing on gold, pressuring bullion and gold-backed funds like IAU. Gold slumps to 6-month low even as inflation fears rise. Heres why bullion is out of favor
• Negative Sentiment: Several market updates say gold remains in a downtrend and near critical support, suggesting more downside risk if support breaks. Gold price remains under pressure as U.S. jobless claims rises to 229k

iShares Gold Trust Company 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).