Graniteshares Gold Trust (NYSEARCA:BAR) Reaches New 52-Week High – Still a Buy?

Graniteshares Gold Trust (NYSEARCA:BAR) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.06 and last traded at $27.05, with a volume of 15601 shares traded. The stock had previously closed at $26.86.

Graniteshares Gold Trust Price Performance

The stock has a 50 day moving average of $25.45 and a 200 day moving average of $24.08.

Institutional Trading of Graniteshares Gold Trust

A number of institutional investors and hedge funds have recently made changes to their positions in BAR. Jane Street Group LLC lifted its position in shares of Graniteshares Gold Trust by 754.7% during the 1st quarter. Jane Street Group LLC now owns 1,459,574 shares of the company’s stock worth $32,052,000 after buying an additional 1,288,795 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Graniteshares Gold Trust by 22.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 657,773 shares of the company’s stock valued at $15,102,000 after purchasing an additional 119,746 shares in the last quarter. Lake Street Private Wealth LLC grew its holdings in shares of Graniteshares Gold Trust by 3.0% during the 1st quarter. Lake Street Private Wealth LLC now owns 367,995 shares of the company’s stock valued at $8,081,000 after purchasing an additional 10,613 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Graniteshares Gold Trust by 65.5% during the 1st quarter. Cetera Investment Advisers now owns 366,265 shares of the company’s stock valued at $8,043,000 after purchasing an additional 144,985 shares during the last quarter. Finally, Cetera Advisors LLC lifted its stake in Graniteshares Gold Trust by 164.5% in the 1st quarter. Cetera Advisors LLC now owns 223,979 shares of the company’s stock valued at $4,919,000 after purchasing an additional 139,290 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.