Rehmann Capital Advisory Group Sells 8,780 Shares of iShares Gold Trust $IAU

Rehmann Capital Advisory Group trimmed its stake in shares of iShares Gold Trust (NYSEARCA:IAU) by 7.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 116,582 shares of the exchange traded fund’s stock after selling 8,780 shares during the quarter. Rehmann Capital Advisory Group’s holdings in iShares Gold Trust were worth $9,461,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. CIBC Bancorp USA Inc. bought a new stake in iShares Gold Trust during the third quarter worth about $193,639,000. Concurrent Investment Advisors LLC grew its stake in iShares Gold Trust by 381.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock worth $205,744,000 after buying an additional 2,008,288 shares in the last quarter. Citigroup Inc. increased its holdings in iShares Gold Trust by 35.7% in the 4th quarter. Citigroup Inc. now owns 7,201,313 shares of the exchange traded fund’s stock valued at $584,531,000 after buying an additional 1,893,594 shares during the period. Mizuho Bank Ltd. bought a new position in iShares Gold Trust in the 3rd quarter valued at about $120,798,000. Finally, Emory University bought a new position in iShares Gold Trust in the 3rd quarter valued at about $78,661,000. Institutional investors own 59.67% of the company’s stock.

More iShares Gold Trust News

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

Shares of NYSEARCA:IAU opened at $79.33 on Friday. The firm has a 50 day moving average of $85.56 and a 200-day moving average of $87.67. iShares Gold Trust has a 12 month low of $61.37 and a 12 month high of $104.40. The stock has a market capitalization of $67.54 billion, a PE ratio of 5.53 and a beta of 0.15.

About iShares Gold Trust

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).