Graniteshares Gold Trust (NYSEARCA:BAR) Sets New 12-Month High – Should You Buy?

Shares of Graniteshares Gold Trust (NYSEARCA:BAR) reached a new 52-week high on Thursday . The stock traded as high as $29.14 and last traded at $29.18, with a volume of 41882 shares traded. The stock had previously closed at $28.93.

Graniteshares Gold Trust Trading Up 0.0 %

The firm has a 50-day moving average price of $27.93 and a two-hundred day moving average price of $26.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new stake in Graniteshares Gold Trust during the fourth quarter worth about $158,000. Choreo LLC raised its holdings in Graniteshares Gold Trust by 18.0% during the fourth quarter. Choreo LLC now owns 14,938 shares of the company’s stock worth $387,000 after acquiring an additional 2,277 shares in the last quarter. Huntington National Bank raised its holdings in Graniteshares Gold Trust by 2.5% during the third quarter. Huntington National Bank now owns 28,118 shares of the company’s stock worth $730,000 after acquiring an additional 686 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in Graniteshares Gold Trust during the third quarter worth about $226,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Graniteshares Gold Trust during the fourth quarter worth about $235,000.

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.