HighTower Advisors LLC Sells 43,044 Shares of iShares Gold Trust $IAU

HighTower Advisors LLC decreased its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,247,846 shares of the exchange traded fund’s stock after selling 43,044 shares during the period. HighTower Advisors LLC owned about 0.39% of iShares Gold Trust worth $245,245,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IAU. Wills Financial Group LLC grew its holdings in iShares Gold Trust by 9.8% in the fourth quarter. Wills Financial Group LLC now owns 147,134 shares of the exchange traded fund’s stock worth $11,943,000 after purchasing an additional 13,093 shares during the period. Greykasell Wealth Strategies Inc. lifted its holdings in shares of iShares Gold Trust by 1,107.5% during the fourth quarter. Greykasell Wealth Strategies Inc. now owns 10,240 shares of the exchange traded fund’s stock valued at $831,000 after purchasing an additional 9,392 shares during the last quarter. Wealth Care LLC purchased a new position in shares of iShares Gold Trust during the first quarter valued at approximately $9,270,000. Acorn Financial Advisory Services Inc. ADV boosted its position in shares of iShares Gold Trust by 3.1% in the 1st quarter. Acorn Financial Advisory Services Inc. ADV now owns 483,758 shares of the exchange traded fund’s stock worth $42,648,000 after purchasing an additional 14,344 shares in the last quarter. Finally, Outlook Wealth Advisors LLC boosted its position in shares of iShares Gold Trust by 48.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 24,046 shares of the exchange traded fund’s stock worth $1,952,000 after purchasing an additional 7,876 shares in the last quarter. Institutional investors own 59.67% of the company’s stock.

Key iShares Gold Trust News

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

• Positive Sentiment: Gold has found some support after the initial selloff, with investors continuing to view the metal as a strategic allocation amid rising government debt, inflation concerns and instability in global bond markets. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold ETF demand could remain resilient despite higher yields because of inflation, fiscal and currency risks, while central banks continue accumulating bullion. The World Gold Council reported 23 net tonnes of central-bank purchases in July, led by China and Poland. Why Gold ETFs Could Keep Shining Despite Higher Rates
• Positive Sentiment: European reserve-management changes and geopolitical tensions are reinforcing gold’s appeal as a crisis asset. The Netherlands moved roughly 86 tons of gold from North America to London to improve crisis preparedness. Dutch central bank moves gold bars out of U.S. and Canada

iShares Gold Trust Price Performance

iShares Gold Trust stock opened at $83.39 on Monday. The company has a market capitalization of $68.87 billion, a P/E ratio of 5.53 and a beta of 0.19. The stock’s 50 day moving average is $79.73 and its 200 day moving average is $84.89. iShares Gold Trust has a twelve month low of $67.35 and a twelve month 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).