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

Graniteshares Gold Trust (NYSEARCA:BAR)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $29.98 and last traded at $29.96, with a volume of 633963 shares trading hands. The stock had previously closed at $29.61.

Graniteshares Gold Trust Trading Down 0.2 %

The stock has a fifty day moving average price of $28.23 and a two-hundred day moving average price of $26.81.

Institutional Trading of Graniteshares Gold Trust

Several hedge funds have recently added to or reduced their stakes in BAR. Exchange Traded Concepts LLC bought a new stake in shares of Graniteshares Gold Trust during the 4th quarter worth about $158,000. Choreo LLC increased its stake in shares of Graniteshares Gold Trust by 18.0% during the fourth quarter. Choreo LLC now owns 14,938 shares of the company’s stock valued at $387,000 after acquiring an additional 2,277 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Graniteshares Gold Trust during the fourth quarter valued at approximately $235,000. Strategic Financial Concepts LLC bought a new stake in Graniteshares Gold Trust during the fourth quarter worth approximately $1,715,000. Finally, Comprehensive Financial Consultants Institutional Inc. lifted its position in Graniteshares Gold Trust by 12.5% in the fourth quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,687 shares of the company’s stock worth $225,000 after purchasing an additional 967 shares during the period.

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.