iShares Gold Trust $IAU Shares Purchased by Contango Wealth Management LLC

Contango Wealth Management LLC increased its position in shares of iShares Gold Trust (NYSEARCA:IAU) by 136.0% in the 1st quarter, Holdings Channel reports. The firm owned 18,787 shares of the exchange traded fund’s stock after purchasing an additional 10,826 shares during the period. iShares Gold Trust accounts for approximately 1.9% of Contango Wealth Management LLC’s portfolio, making the stock its 15th largest position. Contango Wealth Management LLC’s holdings in iShares Gold Trust were worth $1,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IAU. Concurrent Investment Advisors LLC grew its stake in iShares Gold Trust by 381.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 2,534,729 shares of the exchange traded fund’s stock valued at $205,744,000 after acquiring an additional 2,008,288 shares in the last quarter. Citigroup Inc. increased its stake in shares of iShares Gold Trust by 35.7% in the 4th quarter. Citigroup Inc. now owns 7,201,313 shares of the exchange traded fund’s stock worth $584,531,000 after acquiring an additional 1,893,594 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of iShares Gold Trust by 18.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,595,990 shares of the exchange traded fund’s stock worth $535,396,000 after acquiring an additional 1,019,135 shares during the period. Orion Porfolio Solutions LLC boosted its position in shares of iShares Gold Trust by 503.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 930,318 shares of the exchange traded fund’s stock valued at $58,015,000 after acquiring an additional 776,215 shares during the last quarter. Finally, VCU Investment Management Co acquired a new stake in iShares Gold Trust during the fourth quarter worth about $61,835,000. Hedge funds and other institutional investors own 59.67% of the company’s stock.

iShares Gold Trust Price Performance

Shares of IAU stock opened at $76.17 on Monday. The company has a market capitalization of $62.91 billion, a PE ratio of 5.53 and a beta of 0.18. The firm’s 50-day moving average is $78.68 and its two-hundred day moving average is $86.56. iShares Gold Trust has a 12 month low of $61.99 and a 12 month high of $104.40.

iShares Gold Trust News Roundup

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

• Positive Sentiment: Strong central-bank purchases in the second quarter, along with resilient Asian demand, continue to provide a long-term fundamental tailwind for gold and IAU. Gold and silver price forecast and World Gold Council report
• Positive Sentiment: Analysts increasingly view gold near $4,000 as an attractive value area, suggesting support for IAU if prices hold above that level. Gold has value at $4,000 as investors look beyond Fed hawkishness
• Neutral Sentiment: Gold remains range-bound, roughly between $4,000 and $4,200, as investors await clearer signals on interest rates and Middle East developments. The Fed’s rate hold and softer inflation data offered some support, but did not establish a new trend. Gold weekly price analysis
• Negative Sentiment: Long-term Treasury yields reached levels last seen in 2007, increasing the opportunity cost of holding gold. Better-than-expected U.S. consumer sentiment and easing one-year inflation expectations also reduced immediate demand for the metal as an inflation hedge. Gold pulls back as Treasury yields test new highs

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).