iShares Gold Trust $IAU Stock Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC reduced its stake in iShares Gold Trust (NYSEARCA:IAU) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,761 shares of the exchange traded fund’s stock after selling 6,815 shares during the quarter. iShares Gold Trust accounts for 3.2% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Summit Place Financial Advisors LLC’s holdings in iShares Gold Trust were worth $7,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of IAU. Public Employees Retirement System of Ohio purchased a new stake in shares of iShares Gold Trust during the second quarter worth approximately $76,854,000. Crcm LP lifted its holdings in shares of iShares Gold Trust by 73.7% during the first quarter. Crcm LP now owns 1,249,870 shares of the exchange traded fund’s stock worth $111,125,000 after purchasing an additional 530,148 shares during the period. Eurizon Asset Management Hungary Ltd. acquired a new stake in shares of iShares Gold Trust during the first quarter worth $42,494,000. Hamilton Wealth LLC grew its position in iShares Gold Trust by 170.8% in the 1st quarter. Hamilton Wealth LLC now owns 742,179 shares of the exchange traded fund’s stock valued at $65,431,000 after buying an additional 468,115 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in iShares Gold Trust by 1,641.4% in the 1st quarter. Fifth Third Bancorp now owns 380,997 shares of the exchange traded fund’s stock valued at $33,589,000 after buying an additional 359,118 shares during the last quarter. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

iShares Gold Trust Price Performance

NYSEARCA:IAU opened at $75.15 on Monday. The firm has a market cap of $59.26 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. The firm’s fifty day moving average price is $80.90 and its 200 day moving average price is $81.70. iShares Gold Trust has a 1-year low of $73.74 and a 1-year high of $104.40.

Key iShares Gold Trust News

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

• Positive Sentiment: Gold received some support from falling Treasury yields, which can reduce the opportunity cost of holding a non-yielding asset. Gold also rebounded from the $4,000 area, suggesting that level is attracting buyers. Gold Defends $4,000 After Bounce as Fed Signals Take Center Stage
• Positive Sentiment: Inflation expectations increased in the University of Michigan’s October survey, potentially supporting longer-term demand for gold as an inflation hedge. However, consumer sentiment was broadly steady and above expectations. Gold price trades near $4,000/oz after final Consumer Sentiment holds steady

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).