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

Graniteshares Gold Trust (NYSEARCA:BAR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $30.19 and last traded at $30.17, with a volume of 687066 shares. The stock had previously closed at $29.77.

Graniteshares Gold Trust Stock Performance

The firm’s 50-day simple moving average is $28.63 and its 200 day simple moving average is $27.03.

Institutional Investors Weigh In On Graniteshares Gold Trust

A number of large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its position in shares of 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 last quarter. Investment Management Corp VA ADV acquired a new stake in Graniteshares Gold Trust during the 4th quarter valued at $128,000. Wells Fargo & Company MN increased its position in Graniteshares Gold Trust by 74.6% during 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 in the last quarter. Pineridge Advisors LLC boosted its stake 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 valued at $150,000 after acquiring an additional 730 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in Graniteshares Gold Trust during the 4th quarter worth about $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.