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

GraniteShares Gold Trust (NYSEARCA:BAR) shares reached a new 52-week high on Monday . The company traded as high as $42.57 and last traded at $42.44, with a volume of 15658 shares. The stock had previously closed at $41.66.

GraniteShares Gold Trust Stock Performance

The stock has a 50 day simple moving average of $36.59 and a two-hundred day simple moving average of $34.02.

Institutional Trading of GraniteShares Gold Trust

Several hedge funds have recently made changes to their positions in the company. Advyzon Investment Management LLC acquired a new position in GraniteShares Gold Trust during the second quarter worth $10,536,000. Maridea Wealth Management LLC acquired a new stake in shares of GraniteShares Gold Trust in the second quarter valued at $6,489,000. Ausdal Financial Partners Inc. purchased a new stake in shares of GraniteShares Gold Trust in the 2nd quarter valued at $6,148,000. Raymond James Financial Inc. raised its holdings in shares of GraniteShares Gold Trust by 354.1% in the 1st quarter. Raymond James Financial Inc. now owns 223,435 shares of the company’s stock valued at $6,891,000 after buying an additional 174,230 shares during the period. Finally, Nations Financial Group Inc. IA ADV acquired a new position in GraniteShares Gold Trust during the 1st quarter worth about $3,185,000.

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.