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

Graniteshares Gold Trust (NYSEARCA:BAR) reached a new 52-week high during trading on Wednesday . The company traded as high as $26.49 and last traded at $26.49, with a volume of 7400 shares trading hands. The stock had previously closed at $26.27.

Graniteshares Gold Trust Trading Up 0.5 %

The firm’s 50 day moving average price is $25.34 and its two-hundred day moving average price is $23.99.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BAR. Jane Street Group LLC raised its holdings in Graniteshares Gold Trust by 754.7% during the first quarter. Jane Street Group LLC now owns 1,459,574 shares of the company’s stock worth $32,052,000 after purchasing an additional 1,288,795 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Graniteshares Gold Trust by 65.5% in the first quarter. Cetera Investment Advisers now owns 366,265 shares of the company’s stock valued at $8,043,000 after buying an additional 144,985 shares in the last quarter. Cetera Advisors LLC raised its position in Graniteshares Gold Trust by 164.5% in the first quarter. Cetera Advisors LLC now owns 223,979 shares of the company’s stock worth $4,919,000 after acquiring an additional 139,290 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Graniteshares Gold Trust by 22.3% in the second quarter. Bank of New York Mellon Corp now owns 657,773 shares of the company’s stock valued at $15,102,000 after acquiring an additional 119,746 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Graniteshares Gold Trust by 279.2% during the 2nd quarter. Renaissance Technologies LLC now owns 72,800 shares of the company’s stock worth $1,671,000 after purchasing an additional 53,600 shares in 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.