Graniteshares Gold Trust (NYSEARCA:BAR) Sets New 1-Year High – Here’s Why

Graniteshares Gold Trust (NYSEARCA:BAR)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $28.91 and last traded at $28.90, with a volume of 181505 shares. The stock had previously closed at $28.48.

Graniteshares Gold Trust Stock Performance

The firm’s 50 day moving average price is $26.95 and its two-hundred day moving average price is $26.15.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BAR. Farther Finance Advisors LLC boosted its stake in Graniteshares Gold Trust by 33.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,516 shares of the company’s stock valued at $39,000 after purchasing an additional 382 shares during the period. Blue Trust Inc. boosted its holdings in shares of Graniteshares Gold Trust by 142.8% in the 3rd quarter. Blue Trust Inc. now owns 4,662 shares of the company’s stock valued at $121,000 after purchasing an additional 2,742 shares in the last quarter. Investment Management Corp VA ADV bought a new position in Graniteshares Gold Trust in the fourth quarter valued at about $128,000. Wells Fargo & Company MN lifted its holdings in shares of Graniteshares Gold Trust by 74.6% in the fourth quarter. Wells Fargo & Company MN now owns 5,043 shares of the company’s stock worth $131,000 after acquiring an additional 2,154 shares during the last quarter. Finally, Pineridge Advisors LLC grew its holdings in shares of Graniteshares Gold Trust by 14.5% during the 4th quarter. Pineridge Advisors LLC now owns 5,780 shares of the company’s stock valued at $150,000 after purchasing an additional 730 shares during the last quarter.

Graniteshares Gold Trust Company Profile

The GraniteShares Gold Trust (BAR) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less trust expenses and liabilities, using physically held gold stored and secured in vaults in London. BAR was launched on Aug 31, 2017 and is managed by GraniteShares.