Graniteshares Gold Trust (NYSEARCA:BAR) Hits New 1-Year High – Should You Buy?

Graniteshares Gold Trust (NYSEARCA:BAR) reached a new 52-week high during trading on Tuesday . The company traded as high as $27.06 and last traded at $27.05, with a volume of 15601 shares. The stock had previously closed at $26.86.

Graniteshares Gold Trust Stock Up 0.7 %

The stock’s fifty day moving average is $25.45 and its two-hundred day moving average is $24.08.

Institutional Trading of Graniteshares Gold Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC grew its position in shares of Graniteshares Gold Trust by 219.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,359 shares of the company’s stock valued at $31,000 after purchasing an additional 933 shares in the last quarter. Pineridge Advisors LLC increased its stake in Graniteshares Gold Trust by 20.6% in the 1st quarter. Pineridge Advisors LLC now owns 3,591 shares of the company’s stock worth $79,000 after acquiring an additional 614 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Graniteshares Gold Trust by 142.8% in the 3rd quarter. Blue Trust Inc. now owns 4,662 shares of the company’s stock valued at $121,000 after acquiring an additional 2,742 shares in the last quarter. Stratos Investment Management LLC bought a new stake in shares of Graniteshares Gold Trust during the 3rd quarter valued at about $210,000. Finally, Abbrea Capital LLC bought a new stake in shares of Graniteshares Gold Trust during the 2nd quarter valued at about $200,000.

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.