iShares Gold Trust (NYSEARCA:IAU) Hits New 52-Week Low – Should You Sell?

iShares Gold Trust (NYSEARCA:IAU)’s stock price reached a new 52-week low during trading on Thursday. The company traded as low as $72.39 and last traded at $72.5740, with a volume of 2,453,904 shares changing hands. The stock had previously closed at $74.87.

Trending Headlines about iShares Gold Trust

These are some of the IAU headlines that stood out recently:

• Positive Sentiment: Some longer-term support remains: China has continued adding to its gold reserves, and Standard Chartered sees potential for gold to recover by year-end despite near-term headwinds. China buys gold for two straight years Standard Chartered gold outlook
• Negative Sentiment: Hot U.S. CPI has lifted real yields and expectations for further Fed tightening; higher yields increase the opportunity cost of holding non-interest-bearing gold. Reports also point to a stronger dollar, adding pressure to bullion. Gold faces pressure as real yields climb Gold falls as dollar surges and rate-hike bets rise
• Negative Sentiment: Gold has slipped below $4,000 an ounce, with market commentary warning of further losses if support near $3,900 gives way. That weakness is weighing directly on IAU. Analysts warn of further gold losses

iShares Gold Trust Trading Down 2.8%

The firm has a 50 day moving average of $78.52 and a 200-day moving average of $84.09. The company has a market cap of $57.37 billion, a P/E ratio of 5.53 and a beta of 0.20.

Institutional Trading of iShares Gold Trust

Several hedge funds have recently made changes to their positions in IAU. Retirement Planning Group LLC boosted its holdings in shares of iShares Gold Trust by 0.7% in the 3rd quarter. Retirement Planning Group LLC now owns 19,160 shares of the exchange traded fund’s stock worth $1,496,000 after purchasing an additional 130 shares during the period. Euro Pacific Asset Management LLC boosted its stake in iShares Gold Trust by 3.9% during the third quarter. Euro Pacific Asset Management LLC now owns 3,504 shares of the exchange traded fund’s stock worth $293,000 after buying an additional 131 shares during the period. Physician Wealth Advisors Inc. increased its position in iShares Gold Trust by 4.0% during the third quarter. Physician Wealth Advisors Inc. now owns 3,724 shares of the exchange traded fund’s stock valued at $291,000 after acquiring an additional 142 shares during the last quarter. Revolve Wealth Partners LLC increased its position in iShares Gold Trust by 3.8% during the third quarter. Revolve Wealth Partners LLC now owns 3,953 shares of the exchange traded fund’s stock valued at $309,000 after acquiring an additional 143 shares during the last quarter. Finally, Retirement Wealth Solutions LLC raised its stake in shares of iShares Gold Trust by 2.4% in the second quarter. Retirement Wealth Solutions LLC now owns 6,163 shares of the exchange traded fund’s stock valued at $465,000 after acquiring an additional 145 shares during the period. 59.67% of the stock is currently owned by hedge funds and other institutional investors.

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).