Empowered Funds LLC Acquires 22,907 Shares of GraniteShares Gold Trust $BAR

Empowered Funds LLC increased its holdings in shares of GraniteShares Gold Trust (NYSEARCA:BAR) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,661 shares of the company’s stock after purchasing an additional 22,907 shares during the quarter. Empowered Funds LLC’s holdings in GraniteShares Gold Trust were worth $10,410,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Institute for Wealth Management LLC. raised its position in shares of GraniteShares Gold Trust by 2.5% during the fourth quarter. Institute for Wealth Management LLC. now owns 9,767 shares of the company’s stock valued at $415,000 after buying an additional 236 shares during the last quarter. World Investment Advisors boosted its position in shares of GraniteShares Gold Trust by 5.3% during the fourth quarter. World Investment Advisors now owns 5,668 shares of the company’s stock worth $231,000 after acquiring an additional 283 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in GraniteShares Gold Trust by 3.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,337 shares of the company’s stock valued at $477,000 after acquiring an additional 336 shares in the last quarter. Investor s Fiduciary Advisor Network LLC grew its stake in GraniteShares Gold Trust by 3.6% during the fourth quarter. Investor s Fiduciary Advisor Network LLC now owns 13,409 shares of the company’s stock valued at $569,000 after acquiring an additional 466 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its holdings in GraniteShares Gold Trust by 6.8% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,366 shares of the company’s stock valued at $313,000 after acquiring an additional 471 shares during the last quarter.

GraniteShares Gold Trust Trading Up 1.6%

Shares of BAR stock opened at $40.46 on Friday. GraniteShares Gold Trust has a 52 week low of $32.44 and a 52 week high of $54.63. The company’s fifty day simple moving average is $41.27 and its two-hundred day simple moving average is $45.34.

GraniteShares Gold Trust News Roundup

Here are the key news stories impacting GraniteShares Gold Trust this week:

• Positive Sentiment: The Fed’s decision to hold rates steady provided relief for precious metals, while gold gained after the announcement. A weaker-than-expected second-quarter U.S. GDP reading of 1.5% also supports demand for gold as a defensive asset. Fed’s hawkish hold stabilizes gold and silver Gold price analysis after FOMC rate decision
• Positive Sentiment: Investment demand for bullion is showing signs of recovery, with the Royal Mint reporting stronger interest in digital gold and silver. Renewed retail demand could help support the underlying gold price and BAR. Retail investors buy the dip
• Neutral Sentiment: Gold is holding above approximately $4,000 per ounce, but analysts describe the market as rangebound. A sustained move above the $4,203 resistance area is viewed as necessary to confirm a broader bullish reversal. Gold price forecast and resistance outlook
• Negative Sentiment: The Fed’s stance remains relatively hawkish, and elevated yields could limit gold’s upside by increasing the opportunity cost of holding a non-yielding asset. Analysts expect uncertainty over inflation and interest rates to persist until at least September. Fed policy leaves precious metals in limbo
• Negative Sentiment: Consumers continue selling unwanted gold jewelry to take advantage of elevated prices, creating some physical-market supply and potentially limiting gains. Investors sell unwanted gold jewelry

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.