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iShares Gold Trust Micro (BLK-0.85%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in net assets to $1,450,991,617 from $1,201,326,993 at the end of the previous quarter. This increase is primarily attributed to a rise in the price of gold.
The price of gold increased by 12.83% during the quarter, from $2,330.90 to $2,629.95. This contributed to a 12.81% increase in the net asset value per share, which rose from $23.26 to $26.24.
The Trust reported a net investment loss of $234,601 for the quarter, offset by a net realized gain of $4,769,416 from gold bullion transactions.
During the quarter, the Trust issued 4,450,000 shares and redeemed 800,000 shares, resulting in an increase in the number of shares outstanding to 55,300,000.
For the nine months ended September 30, 2024, the Trust's net assets increased by 18.76%, from $1,221,830,170 at the end of 2023. The increase is primarily due to a 27.52% rise in the price of gold during this period.
The Trust's net investment loss for the nine-month period was $612,915, while net realized gains from gold transactions amounted to $38,789,886.
The Trust's only expense during the period was the Sponsor's fee, which was $612,915 for the nine months.
The filing also notes that the Trust does not anticipate any material changes to its liquidity needs, with its only source of liquidity being sales of gold.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the iShares Gold Trust Micro quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.