GraniteShares Gold Trust (NYSEARCA:BAR) Sees Significant Decline in Short Interest

GraniteShares Gold Trust (NYSEARCA:BAR) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 129,560 shares, a decrease of 36.6% from the June 15th total of 204,265 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 197,805 shares, the short-interest ratio is currently 0.7 days.

GraniteShares Gold Trust Stock Performance

Shares of BAR opened at $39.54 on Friday. The business has a 50-day simple moving average of $42.23 and a two-hundred day simple moving average of $45.54. GraniteShares Gold Trust has a 52 week low of $32.23 and a 52 week high of $54.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in GraniteShares Gold Trust by 16,545.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,864,268 shares of the company’s stock valued at $130,971,000 after purchasing an additional 2,847,061 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in GraniteShares Gold Trust by 264.2% in the fourth quarter. Bank of New York Mellon Corp now owns 698,687 shares of the company’s stock worth $29,687,000 after purchasing an additional 506,856 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new position in GraniteShares Gold Trust during the 2nd quarter valued at $6,148,000. Advyzon Investment Management LLC boosted its stake in shares of GraniteShares Gold Trust by 55.0% during the fourth quarter. Advyzon Investment Management LLC now owns 451,967 shares of the company’s stock valued at $19,204,000 after purchasing an additional 160,422 shares during the period. Finally, Empowered Funds LLC boosted its position in GraniteShares Gold Trust by 66.3% in the 4th quarter. Empowered Funds LLC now owns 202,754 shares of the company’s stock valued at $8,615,000 after buying an additional 80,831 shares during the period.

Key GraniteShares Gold Trust News

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

• Positive Sentiment: Some analysts say gold may be nearing a bottom, with reports noting the broader correction is mostly complete and that central bank buying could continue to support the metal over time. Gold Price Forecast: The Bottoming Process Continues as Bearishness Deepens
• Positive Sentiment: Gold briefly rebounded near the $4,000 level after softer inflation expectations and improved consumer sentiment, which can help stabilize sentiment for gold-backed funds like BAR. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Neutral Sentiment: New gold ETF products and commentary about leveraged gold funds do not directly affect BAR, but they show continued investor interest in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has fallen below or struggled to hold the psychologically important $4,000 level, with several reports pointing to weakening technical support and bearish momentum. Markets will find out next week how firm $4,000 is as a floor for gold
• Negative Sentiment: Stronger U.S. economic data, including better-than-expected jobless claims and Philadelphia Fed manufacturing figures, reduced safe-haven demand and added pressure to gold prices. Spot gold slides to session low $3.999/oz after Philly Fed survey rises to 41.4 in July

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.