Graniteshares Gold Trust (NYSEARCA:BAR) Sets New 52-Week High – Time to Buy?

Graniteshares Gold Trust (NYSEARCA:BAR)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $29.09 and last traded at $29.03, with a volume of 36121 shares trading hands. The stock had previously closed at $28.97.

Graniteshares Gold Trust Stock Performance

The firm’s 50-day simple moving average is $27.06 and its two-hundred day simple moving average is $26.24.

Institutional Investors Weigh In On Graniteshares Gold Trust

A number of large investors have recently added to or reduced their stakes in BAR. Farther Finance Advisors LLC lifted its holdings in shares of Graniteshares Gold Trust by 33.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,516 shares of the company’s stock worth $39,000 after buying an additional 382 shares during the last quarter. Blue Trust Inc. boosted its holdings in Graniteshares Gold Trust by 142.8% in the 3rd quarter. Blue Trust Inc. now owns 4,662 shares of the company’s stock valued at $121,000 after purchasing an additional 2,742 shares during the period. Investment Management Corp VA ADV acquired a new stake in Graniteshares Gold Trust in the 4th quarter worth $128,000. Wells Fargo & Company MN increased its holdings in shares of Graniteshares Gold Trust by 74.6% during the 4th quarter. Wells Fargo & Company MN now owns 5,043 shares of the company’s stock worth $131,000 after purchasing an additional 2,154 shares during the period. Finally, Pineridge Advisors LLC raised its position 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 buying an additional 730 shares during the last quarter.

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.