Graniteshares Gold Trust (NYSEARCA:BAR) Hits New 12-Month High – Here’s What Happened

Graniteshares Gold Trust (NYSEARCA:BAR) reached a new 52-week high during trading on Wednesday . The company traded as high as $28.09 and last traded at $28.09, with a volume of 936793 shares changing hands. The stock had previously closed at $27.81.

Graniteshares Gold Trust Price Performance

The stock’s 50-day simple moving average is $26.39 and its 200 day simple moving average is $25.76.

Hedge Funds Weigh In On Graniteshares Gold Trust

A number of hedge funds have recently made changes to their positions in BAR. Clear Point Advisors Inc. increased its stake in Graniteshares Gold Trust by 0.7% during the fourth quarter. Clear Point Advisors Inc. now owns 88,033 shares of the company’s stock worth $2,279,000 after purchasing an additional 594 shares during the period. Strategic Financial Concepts LLC purchased a new stake in Graniteshares Gold Trust during the 4th quarter worth approximately $1,715,000. Life Planning Partners Inc acquired a new stake in Graniteshares Gold Trust during the 4th quarter worth approximately $648,000. Pineridge Advisors LLC boosted its position in Graniteshares Gold Trust by 14.5% in the 4th 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 period. Finally, Brandywine Oak Private Wealth LLC grew its stake in shares of Graniteshares Gold Trust by 1.2% in the fourth quarter. Brandywine Oak Private Wealth LLC now owns 483,041 shares of the company’s stock worth $12,506,000 after acquiring an additional 5,812 shares in 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.