Graniteshares Gold Trust (NYSEARCA:BAR) Reaches New 1-Year High – Time to Buy?

Graniteshares Gold Trust (NYSEARCA:BAR)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.14 and last traded at $29.18, with a volume of 41882 shares changing hands. The stock had previously closed at $28.93.

Graniteshares Gold Trust Trading Up 1.5 %

The stock’s 50-day moving average is $27.80 and its 200-day moving average is $26.62.

Institutional Investors Weigh In On Graniteshares Gold Trust

Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Graniteshares Gold Trust by 33.7% in the fourth 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. Investment Management Corp VA ADV bought a new stake in shares of Graniteshares Gold Trust in the 4th quarter valued at about $128,000. Wells Fargo & Company MN increased its stake 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 valued at $131,000 after buying an additional 2,154 shares during the period. Pineridge Advisors LLC raised its position in shares of Graniteshares Gold Trust by 14.5% during the fourth quarter. Pineridge Advisors LLC now owns 5,780 shares of the company’s stock worth $150,000 after acquiring an additional 730 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Graniteshares Gold Trust in the fourth quarter worth approximately $158,000.

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.