Bank of New York Mellon Corp Sells 513,881 Shares of iShares Gold Trust $IAU

Bank of New York Mellon Corp trimmed its position in iShares Gold Trust (NYSEARCA:IAU) by 23.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,690,480 shares of the exchange traded fund’s stock after selling 513,881 shares during the period. Bank of New York Mellon Corp owned 0.20% of iShares Gold Trust worth $149,033,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of IAU. Merkkuri Wealth Advisors LLC bought a new position in shares of iShares Gold Trust in the first quarter worth $26,000. Fairway Wealth LLC boosted its stake in iShares Gold Trust by 525.0% during the first quarter. Fairway Wealth LLC now owns 300 shares of the exchange traded fund’s stock valued at $26,000 after buying an additional 252 shares during the period. Godfrey Financial Associates Inc. bought a new stake in iShares Gold Trust during the fourth quarter valued at $25,000. Rossby Financial LCC grew its position in iShares Gold Trust by 75.7% during the fourth quarter. Rossby Financial LCC now owns 325 shares of the exchange traded fund’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Finally, Monetary Solutions Ltd purchased a new position in iShares Gold Trust during the fourth quarter worth about $26,000. 59.67% of the stock is owned by institutional investors.

More iShares Gold Trust News

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

• Neutral Sentiment: Gold is trying to hold the $4,000 level after a sharp pullback, with next week likely to determine whether that area becomes a firm support zone or gives way to more downside. Markets will find out next week how firm $4,000 is as a floor for gold
• Neutral Sentiment: Fresh U.S. data, including better consumer sentiment and stronger housing starts, has eased some recession fears and reduced the immediate safe-haven bid for gold. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Negative Sentiment: Technical analysts say bearish momentum is building, with gold breaking trend support and key downside levels now in focus. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Rising Treasury yields and a stronger U.S. dollar have been repeatedly cited as headwinds for gold, pressuring prices below the key $4,000 mark. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report

iShares Gold Trust Price Performance

Shares of IAU opened at $75.50 on Monday. The firm’s 50 day simple moving average is $80.69 and its 200 day simple moving average is $87.04. The company has a market capitalization of $62.36 billion, a P/E ratio of 5.53 and a beta of 0.18. iShares Gold Trust has a 1-year low of $61.60 and a 1-year high of $104.40.

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).