Graniteshares Gold Trust (NYSEARCA:BAR) Reaches New 12-Month High – Here’s Why

Graniteshares Gold Trust (NYSEARCA:BAR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $28.74 and last traded at $28.68, with a volume of 968104 shares trading hands. The stock had previously closed at $28.22.

Graniteshares Gold Trust Trading Up 1.6 %

The company’s 50 day moving average price is $26.55 and its 200-day moving average price is $25.89.

Institutional Investors Weigh In On Graniteshares Gold Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings 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 in the last quarter. Stratos Wealth Advisors LLC boosted its position in shares of Graniteshares Gold Trust by 4.2% in the third quarter. Stratos Wealth Advisors LLC now owns 9,952 shares of the company’s stock worth $258,000 after buying an additional 397 shares during the period. Clear Point Advisors Inc. boosted its position in shares of Graniteshares Gold Trust by 0.7% in the fourth quarter. Clear Point Advisors Inc. now owns 88,033 shares of the company’s stock worth $2,279,000 after buying an additional 594 shares during the period. Huntington National Bank grew its stake in shares of Graniteshares Gold Trust by 2.5% in the third quarter. Huntington National Bank now owns 28,118 shares of the company’s stock valued at $730,000 after buying an additional 686 shares in the last quarter. Finally, Pineridge Advisors LLC raised 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 buying an additional 730 shares during the period.

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.