63,509 Shares in iShares Gold Trust $IAU Acquired by Gunpowder Capital Management LLC dba Oliver Wealth Management

Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in iShares Gold Trust (NYSEARCA:IAU) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 63,509 shares of the exchange traded fund’s stock, valued at approximately $5,155,000. iShares Gold Trust accounts for 4.0% of Gunpowder Capital Management LLC dba Oliver Wealth Management’s holdings, making the stock its 6th largest holding.

A number of other institutional investors have also added to or reduced their stakes in IAU. Compass Financial Group Inc. Ohio bought a new position in iShares Gold Trust in the fourth quarter worth approximately $618,000. Pure Financial Advisors LLC raised its position in shares of iShares Gold Trust by 26.4% during the fourth quarter. Pure Financial Advisors LLC now owns 4,742 shares of the exchange traded fund’s stock worth $385,000 after purchasing an additional 991 shares during the period. SHP Wealth Management bought a new position in shares of iShares Gold Trust in the 4th quarter worth $148,000. NWF Advisory Services Inc. increased its stake in iShares Gold Trust by 28.5% during the 4th quarter. NWF Advisory Services Inc. now owns 16,374 shares of the exchange traded fund’s stock valued at $1,329,000 after purchasing an additional 3,629 shares in the last quarter. Finally, Sankala Group LLC acquired a new position in iShares Gold Trust during the fourth quarter worth $416,000. 59.67% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting iShares Gold Trust

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

• Negative Sentiment: Gold prices weakened after the Fed signaled a higher-for-longer rate stance, with some traders now pricing in the possibility of at least one rate hike later this year. Hawkish Fed keeps pressure on gold as physical premiums soften – Kitco PM Report
• Negative Sentiment: Multiple market outlooks point to gold testing key support levels, with analysts warning the metal could retest the $4,000 area if bearish momentum continues. Gold (XAU/USD) Price Forecast: Support Test Could Shape Next Major Move
• Negative Sentiment: Stronger U.S. labor and manufacturing data, along with a firmer dollar, added to the pressure on precious metals and reinforced the shift away from defensive gold positioning. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June

iShares Gold Trust Stock Performance

iShares Gold Trust stock opened at $79.33 on Friday. iShares Gold Trust has a 1-year low of $61.37 and a 1-year high of $104.40. The firm has a market capitalization of $67.54 billion, a price-to-earnings ratio of 5.53 and a beta of 0.15. The firm’s fifty day moving average price is $85.56 and its two-hundred day moving average price is $87.67.

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).