GraniteShares Gold Trust (NYSEARCA:BAR) Share Price Pass Below 200 Day Moving Average – What’s Next?

GraniteShares Gold Trust (NYSEARCA:BAR) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $44.25 and traded as low as $42.74. GraniteShares Gold Trust shares last traded at $42.78, with a volume of 404,371 shares changing hands.

Trending Headlines about GraniteShares Gold Trust

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

• Positive Sentiment: Gold’s rebound from its 200-day exponential moving average has brought the $4,500 resistance level back into focus. A sustained move above $4,443 could signal another bullish leg, which would likely benefit BAR through higher underlying gold prices. Gold Price Forecast: Bulls Defend 200-Day EMA After Hot CPI
• Positive Sentiment: Analysts say a potential Federal Reserve rate hike may create short-term volatility but is unlikely to derail gold’s longer-term bullish trend. Middle East tensions and safe-haven demand are additional supports for gold and BAR. The Fed can hike, but it won’t derail gold’s long-term bull market
• Positive Sentiment: Gold has continued to outperform other precious metals, while value buyers have defended important support levels. This relative strength provides a favorable backdrop for the gold-backed ETF. If these key gold price levels fail, expect accelerated near-term selling

GraniteShares Gold Trust Stock Up 0.5%

The stock has a 50-day simple moving average of $42.04 and a 200 day simple moving average of $44.25.

Hedge Funds Weigh In On GraniteShares Gold Trust

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. boosted its position in shares of GraniteShares Gold Trust by 22.3% during the 2nd quarter. Raymond James Financial Inc. now owns 273,161 shares of the company’s stock valued at $8,916,000 after acquiring an additional 49,726 shares in the last quarter. Ausdal Financial Partners Inc. bought a new stake in shares of GraniteShares Gold Trust in the 2nd quarter valued at approximately $6,148,000. IHT Wealth Management LLC acquired a new position in shares of GraniteShares Gold Trust in the 2nd quarter worth approximately $523,000. MML Investors Services LLC raised its holdings in shares of GraniteShares Gold Trust by 1.6% in the 2nd quarter. MML Investors Services LLC now owns 216,038 shares of the company’s stock worth $7,051,000 after buying an additional 3,325 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of GraniteShares Gold Trust by 2.4% during the second quarter. Corient Private Wealth LLC now owns 20,651 shares of the company’s stock valued at $674,000 after acquiring an additional 480 shares during the period.

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.