Wedbush Securities Inc. Boosts Stake in iShares Gold Trust $IAU

Wedbush Securities Inc. grew its holdings in shares of iShares Gold Trust (NYSEARCA:IAU) by 18.2% in the 2nd quarter, Holdings Channel reports. The fund owned 54,861 shares of the exchange traded fund’s stock after acquiring an additional 8,462 shares during the period. Wedbush Securities Inc.’s holdings in iShares Gold Trust were worth $4,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of IAU. Haverford Trust Co lifted its stake in shares of iShares Gold Trust by 3.4% in the fourth quarter. Haverford Trust Co now owns 3,617 shares of the exchange traded fund’s stock worth $294,000 after acquiring an additional 120 shares in the last quarter. Evolution Wealth Management Inc. grew its stake in iShares Gold Trust by 40.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 432 shares of the exchange traded fund’s stock valued at $38,000 after purchasing an additional 124 shares in the last quarter. Brooks Moore & Associates Inc. increased its holdings in iShares Gold Trust by 2.1% during the 4th quarter. Brooks Moore & Associates Inc. now owns 6,076 shares of the exchange traded fund’s stock worth $493,000 after purchasing an additional 125 shares during the last quarter. SmartHarvest Portfolios LLC increased its holdings in iShares Gold Trust by 2.0% during the 1st quarter. SmartHarvest Portfolios LLC now owns 6,485 shares of the exchange traded fund’s stock worth $572,000 after purchasing an additional 129 shares during the last quarter. Finally, Nemes Rush Group LLC raised its position in shares of iShares Gold Trust by 1.9% in the 4th quarter. Nemes Rush Group LLC now owns 6,982 shares of the exchange traded fund’s stock valued at $567,000 after purchasing an additional 130 shares in the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about iShares Gold Trust

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

• Positive Sentiment: Longer-term demand remains supportive. Analysts cited rising U.S. government debt, potential currency debasement and de-dollarization as reasons investors and foreign central banks may continue favoring gold over alternative assets such as Bitcoin. Some forecasts see additional upside if fiscal concerns persist. Gold’s renewed momentum is sending a warning about America’s $40 trillion debt
• Positive Sentiment: Gold has rebounded roughly 15% since June, and several analysts continue to view the broader trend as bullish while prices remain above important longer-term support. Gold is Glittering This Quarter
• Neutral Sentiment: Markets are awaiting Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks and further rate guidance. A divided Fed could produce significant volatility, with gold traders monitoring support around $4,500-$4,575 and resistance near $4,700-$4,800. Gold is on the radar screen and the Fed is split down the middle
• Negative Sentiment: Near-term selling intensified after Warsh emphasized that inflation remains a greater concern than a slowing labor market, reviving expectations for a possible September rate hike. Higher yields and a firmer U.S. dollar reduce the appeal of non-yielding gold. Gold prices drop 1% as Warsh says inflation is a bigger concern
• Negative Sentiment: Gold fell sharply over several sessions and broke below its 200-day moving average, a potentially bearish technical signal. The latest employment revisions and easing inflation expectations also reduced demand for gold as a defensive hedge. Gold News: Gold Price Breaks 200-Day MA as Warsh Revives September Hike Bets

iShares Gold Trust Stock Down 3.2%

Shares of IAU opened at $83.82 on Friday. The firm has a market cap of $69.23 billion, a price-to-earnings ratio of 5.53 and a beta of 0.18. The business’s 50 day moving average is $79.09 and its two-hundred day moving average is $85.36. iShares Gold Trust has a 52-week low of $64.41 and a 52-week high of $104.40.

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).