Northwestern Mutual Wealth Management Co. Grows Position in GraniteShares Gold Trust $BAR

Northwestern Mutual Wealth Management Co. increased its holdings in GraniteShares Gold Trust (NYSEARCA:BAR) by 16,545.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,864,268 shares of the company’s stock after acquiring an additional 2,847,061 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 8.15% of GraniteShares Gold Trust worth $130,971,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Moneco Advisors LLC purchased a new stake in GraniteShares Gold Trust in the fourth quarter worth about $212,000. World Investment Advisors lifted its position in shares of GraniteShares Gold Trust by 5.3% during the fourth quarter. World Investment Advisors now owns 5,668 shares of the company’s stock valued at $231,000 after buying an additional 283 shares during the last quarter. Ballast Rock Private Wealth LLC purchased a new stake in shares of GraniteShares Gold Trust during the fourth quarter valued at about $266,000. Oppenheimer & Co. Inc. purchased a new stake in shares of GraniteShares Gold Trust during the fourth quarter valued at about $1,559,000. Finally, Investment Management Corp VA ADV purchased a new stake in shares of GraniteShares Gold Trust during the fourth quarter valued at about $209,000.

Key Headlines Impacting GraniteShares Gold Trust

Here are the key news stories impacting GraniteShares Gold Trust this week:

• Negative Sentiment: Gold broke below key support levels, with several reports citing a bearish breakdown under $4,600 and the risk of a deeper pullback toward major technical support. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support
• Negative Sentiment: Several articles pointed to dollar strength and higher yields as the biggest headwinds, with the dollar pushing toward new highs and Treasury yields rising sharply. Gold News: Gold Price Breaks Lower as Dollar Hits 99 and Yields Surge
• Negative Sentiment: Hot inflation data and stronger economic readings, including a rising New York Empire State survey and better U.S. retail sales, reduced hopes for rate cuts and weighed on gold sentiment. Gold could see further headwinds as New York Empire State Survey rises to 19.6
• Neutral Sentiment: Some reports noted intermittent support from geopolitical uncertainty and safe-haven demand, but that buying has not been enough to offset the macro pressure on gold. Gold Prices Rise on Strong Demand

GraniteShares Gold Trust Price Performance

BAR stock opened at $44.75 on Friday. The firm has a 50-day simple moving average of $46.70 and a two-hundred day simple moving average of $45.33. GraniteShares Gold Trust has a one year low of $31.23 and a one year high of $54.63.

GraniteShares Gold Trust 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.