Procyon Advisors LLC Cuts Position in iShares Gold Trust $IAU

Procyon Advisors LLC decreased its holdings in iShares Gold Trust (NYSEARCA:IAU) by 91.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,054 shares of the exchange traded fund’s stock after selling 52,944 shares during the quarter. Procyon Advisors LLC’s holdings in iShares Gold Trust were worth $446,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new position in shares of iShares Gold Trust during the 1st quarter worth approximately $185,000. Diversify Wealth Management LLC raised its position in iShares Gold Trust by 119.0% during the first quarter. Diversify Wealth Management LLC now owns 118,274 shares of the exchange traded fund’s stock worth $10,118,000 after acquiring an additional 64,273 shares during the period. Valmark Advisers Inc. lifted its holdings in iShares Gold Trust by 3.1% during the first quarter. Valmark Advisers Inc. now owns 10,160 shares of the exchange traded fund’s stock valued at $896,000 after purchasing an additional 307 shares in the last quarter. Ferguson Wellman Capital Management Inc. purchased a new position in iShares Gold Trust during the first quarter valued at $620,000. Finally, Midwest Trust Co lifted its holdings in iShares Gold Trust by 6.4% during the first quarter. Midwest Trust Co now owns 155,781 shares of the exchange traded fund’s stock valued at $13,734,000 after purchasing an additional 9,306 shares in the last quarter. Hedge funds and other institutional investors own 59.67% of the company’s stock.

Key Headlines Impacting iShares Gold Trust

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

• Positive Sentiment: Gold rallied after U.S. inflation came in softer than expected, helping support bullion and gold-backed products like IAU by lowering real-rate pressure. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
• Positive Sentiment: Analysts said gold’s pullback is likely temporary noise, arguing that gold remains one of the better-performing assets over the past year and that mining stocks remain the standout trade. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
• Positive Sentiment: Multiple market updates pointed to gold finding support near key technical levels, with traders watching for a rebound if the metal can hold support and break resistance. Gold Jumps as Weaker CPI Defends $4,000 Support
• Neutral Sentiment: Some commentary noted that gold remains under pressure from resistance, rising yields, and hawkish Fed expectations, which could keep volatility elevated even after the recent bounce. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns
• Negative Sentiment: Several reports warned that gold had been struggling below recent highs, with bears defending resistance and safe-haven demand weakening at times amid geopolitical and rate-related concerns. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone

iShares Gold Trust Stock Up 1.4%

IAU stock opened at $76.27 on Wednesday. The stock has a market capitalization of $62.99 billion, a P/E ratio of 5.53 and a beta of 0.18. The firm has a 50-day simple moving average of $81.47 and a 200-day simple moving average of $87.22. iShares Gold Trust has a 52 week low of $61.60 and a 52 week high of $104.40.

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).