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

Shares of Graniteshares Gold Trust (NYSEARCA:BAR) hit a new 52-week high during trading on Thursday . The stock traded as high as $31.31 and last traded at $31.19, with a volume of 288296 shares changing hands. The stock had previously closed at $30.53.

Graniteshares Gold Trust Trading Up 2.0 %

The firm’s fifty day moving average is $29.38 and its two-hundred day moving average is $27.44.

Institutional Trading of Graniteshares Gold Trust

A number of hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its position in shares of Graniteshares Gold Trust by 33.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,516 shares of the company’s stock valued at $39,000 after acquiring an additional 382 shares during the period. Investment Management Corp VA ADV bought a new position in Graniteshares Gold Trust during the fourth quarter valued at $128,000. Wells Fargo & Company MN increased its position in 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 buying an additional 2,154 shares during the last quarter. Pineridge Advisors LLC raised its stake in shares of Graniteshares Gold Trust by 14.5% in the fourth 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. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Graniteshares Gold Trust during the 4th quarter valued at $158,000.

About Graniteshares Gold Trust

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.