Northwestern Mutual Wealth Management Co. Sells 3,675,755 Shares of iShares Gold Trust $IAU

Northwestern Mutual Wealth Management Co. lowered its stake in iShares Gold Trust (NYSEARCA:IAU) by 65.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,901,100 shares of the exchange traded fund’s stock after selling 3,675,755 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in iShares Gold Trust were worth $154,312,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Abich Financial Wealth Management LLC bought a new position in iShares Gold Trust in the third quarter valued at approximately $25,000. Dakota Community Bank & Trust NA bought a new position in iShares Gold Trust in the fourth quarter valued at approximately $30,000. Fourth Dimension Wealth LLC lifted its stake in iShares Gold Trust by 436.3% in the third quarter. Fourth Dimension Wealth LLC now owns 429 shares of the exchange traded fund’s stock valued at $31,000 after buying an additional 349 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in iShares Gold Trust in the third quarter valued at approximately $31,000. Finally, Key Capital Management INC bought a new position in iShares Gold Trust in the fourth quarter valued at approximately $32,000. Institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Stock Performance

Shares of IAU opened at $85.51 on Friday. iShares Gold Trust has a twelve month low of $59.71 and a twelve month high of $104.40. The firm’s 50 day moving average price is $89.23 and its two-hundred day moving average price is $86.62. The firm has a market cap of $72.80 billion, a P/E ratio of 5.53 and a beta of 0.16.

Key iShares Gold Trust News

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

• Positive Sentiment: Some market commentary still points to long-term support for gold from central bank buying and ongoing geopolitical uncertainty, which could help limit downside over time. Central Banks Are Snapping Up Gold ETF Investors Are Just Waking Up: The Best Gold ETFs to Own Before It Hits $5,000
• Neutral Sentiment: Gold remains near a major support zone, and several analysts say that area will determine whether the metal stabilizes or extends its correction. Wall Street sees gold dropping further as yields and the dollar strengthen, Main Street maintains bullish bias as $4,500 emerges as critical support
• Neutral Sentiment: Longer-term demand for gold is still being supported by safe-haven interest, but that positive backdrop is being offset in the short run by higher rates and dollar strength. Gold and silver await fresh catalyst despite supportive fundamentals – Sucden Financials
• Negative Sentiment: Gold prices fell as the dollar strengthened and Treasury yields moved higher, hurting demand for gold as a non-yielding asset. Gold News: Gold Price Breaks Lower as Dollar Hits 99 and Yields Surge
• Negative Sentiment: Several reports describe a broad sell-off in precious metals, with gold breaking key support and silver also sliding, reinforcing bearish momentum in the sector. Gold and silver slammed as Iran war fuels inflation and rate hike fears
• Negative Sentiment: Technical analysis points to a bearish breakdown in gold, with downside risk toward a deeper support zone if selling continues. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support

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).