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

Graniteshares Gold Trust (NYSEARCA:BAR)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.31 and last traded at $31.19, with a volume of 288296 shares trading hands. The stock had previously closed at $30.53.

Graniteshares Gold Trust Stock Performance

The company’s 50 day moving average is $29.38 and its 200-day moving average is $27.44.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC acquired a new position in shares of Graniteshares Gold Trust during the fourth quarter valued at about $158,000. Commonwealth Equity Services LLC increased its holdings in Graniteshares Gold Trust by 31.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 115,866 shares of the company’s stock worth $3,000,000 after purchasing an additional 27,732 shares in the last quarter. Choreo LLC raised its stake in shares of Graniteshares Gold Trust by 18.0% in the fourth quarter. Choreo LLC now owns 14,938 shares of the company’s stock worth $387,000 after purchasing an additional 2,277 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings 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 in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Graniteshares Gold Trust by 15.8% during the fourth quarter. HighTower Advisors LLC now owns 93,439 shares of the company’s stock valued at $2,419,000 after buying an additional 12,770 shares during the last quarter.

Graniteshares Gold Trust Company 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.