Zhang Financial LLC Sells 9,678 Shares of iShares Gold Trust $IAU

Zhang Financial LLC decreased its position in iShares Gold Trust (NYSEARCA:IAU) by 2.0% in the 1st quarter, HoldingsChannel reports. The fund owned 463,742 shares of the exchange traded fund’s stock after selling 9,678 shares during the period. iShares Gold Trust makes up about 1.4% of Zhang Financial LLC’s investment portfolio, making the stock its 15th biggest holding. Zhang Financial LLC’s holdings in iShares Gold Trust were worth $40,883,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IAU. Merkkuri Wealth Advisors LLC acquired a new position in shares of iShares Gold Trust in the first quarter valued at $26,000. Fairway Wealth LLC boosted its stake in iShares Gold Trust by 525.0% during the first quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 252 shares in the last quarter. Godfrey Financial Associates Inc. bought a new stake in iShares Gold Trust in the 4th quarter valued at $25,000. Rossby Financial LCC increased its holdings in iShares Gold Trust by 75.7% in the 4th quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 140 shares during the period. Finally, Monetary Solutions Ltd acquired a new position in shares of iShares Gold Trust in the 4th quarter valued at $26,000. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

NYSEARCA:IAU opened at $75.50 on Friday. The company has a 50-day moving average of $80.69 and a 200-day moving average of $87.01. iShares Gold Trust has a 52 week low of $61.60 and a 52 week high of $104.40. The company has a market capitalization of $62.36 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18.

Key Headlines Impacting iShares Gold Trust

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

• Neutral Sentiment: Gold is trying to hold the $4,000 level after a sharp pullback, with next week likely to determine whether that area becomes a firm support zone or gives way to more downside. Markets will find out next week how firm $4,000 is as a floor for gold
• Neutral Sentiment: Fresh U.S. data, including better consumer sentiment and stronger housing starts, has eased some recession fears and reduced the immediate safe-haven bid for gold. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Negative Sentiment: Technical analysts say bearish momentum is building, with gold breaking trend support and key downside levels now in focus. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar have been repeatedly cited as headwinds for gold, pressuring prices below the key $4,000 mark. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report

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).