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

Graniteshares Gold Trust (NYSEARCA:BAR) shares hit a new 52-week high during trading on Thursday . The company traded as high as $29.14 and last traded at $29.18, with a volume of 41882 shares changing hands. The stock had previously closed at $28.93.

Graniteshares Gold Trust Stock Up 0.0 %

The stock has a 50 day moving average price of $27.93 and a 200 day moving average price of $26.67.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of Graniteshares Gold Trust by 0.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 840,860 shares of the company’s stock valued at $21,770,000 after acquiring an additional 6,740 shares during the last quarter. Royal Bank of Canada raised its position in Graniteshares Gold Trust by 6.2% during the 4th quarter. Royal Bank of Canada now owns 818,029 shares of the company’s stock worth $21,179,000 after purchasing an additional 48,017 shares during the last quarter. LPL Financial LLC raised its position in Graniteshares Gold Trust by 5.0% during the 4th quarter. LPL Financial LLC now owns 679,644 shares of the company’s stock worth $17,596,000 after purchasing an additional 32,166 shares during the last quarter. Brandywine Oak Private Wealth LLC raised its position in Graniteshares Gold Trust by 1.2% during the 4th quarter. Brandywine Oak Private Wealth LLC now owns 483,041 shares of the company’s stock worth $12,506,000 after purchasing an additional 5,812 shares during the last quarter. Finally, Lake Street Private Wealth LLC raised its position in Graniteshares Gold Trust by 10.7% during the 4th quarter. Lake Street Private Wealth LLC now owns 406,568 shares of the company’s stock worth $10,526,000 after purchasing an additional 39,429 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.