Graniteshares Gold Trust (NYSEARCA:BAR) Reaches New 52-Week High – Should You Buy?

Graniteshares Gold Trust (NYSEARCA:BAR)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $27.58 and last traded at $27.58, with a volume of 547992 shares traded. The stock had previously closed at $27.19.

Graniteshares Gold Trust Stock Up 1.4 %

The business’s 50-day moving average is $26.30 and its two-hundred day moving average is $25.68.

Hedge Funds Weigh In On Graniteshares Gold Trust

A number of hedge funds have recently modified their holdings of the business. Stratos Wealth Advisors LLC raised its stake in shares of Graniteshares Gold Trust by 4.2% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 9,952 shares of the company’s stock worth $258,000 after buying an additional 397 shares in the last quarter. Axiom Advisory LLC lifted its position in shares of Graniteshares Gold Trust by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 34,688 shares of the company’s stock valued at $849,000 after acquiring an additional 542 shares during the period. Huntington National Bank boosted its stake in shares of Graniteshares Gold Trust by 2.5% during the 3rd quarter. Huntington National Bank now owns 28,118 shares of the company’s stock worth $730,000 after acquiring an additional 686 shares in the last quarter. Pineridge Advisors LLC grew its holdings in shares of Graniteshares Gold Trust by 14.5% in the 4th quarter. Pineridge Advisors LLC now owns 5,780 shares of the company’s stock worth $150,000 after acquiring an additional 730 shares during the period. Finally, Comprehensive Financial Consultants Institutional Inc. increased its stake in Graniteshares Gold Trust by 12.5% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,687 shares of the company’s stock valued at $225,000 after purchasing an additional 967 shares in 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.