GraniteShares Gold Trust (NYSEARCA:BAR) Reaches New 1-Year Low – Should You Sell?

Shares of GraniteShares Gold Trust (NYSEARCA:BAR) hit a new 52-week low on Thursday. The stock traded as low as $37.92 and last traded at $38.0150, with a volume of 38,767 shares changing hands. The stock had previously closed at $39.21.

GraniteShares Gold Trust Stock Performance

The business’s 50 day simple moving average is $41.11 and its 200 day simple moving average is $44.02.

Hedge Funds Weigh In On GraniteShares Gold Trust

Several institutional investors have recently bought and sold shares of BAR. Envestnet Asset Management Inc. raised its holdings in GraniteShares Gold Trust by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 633,252 shares of the company’s stock valued at $25,032,000 after acquiring an additional 3,025 shares in the last quarter. ALM First Financial Advisors LLC increased its position in shares of GraniteShares Gold Trust by 20.7% in the 2nd quarter. ALM First Financial Advisors LLC now owns 281,590 shares of the company’s stock valued at $11,131,000 after purchasing an additional 48,237 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of GraniteShares Gold Trust by 11.3% in the 1st quarter. Empowered Funds LLC now owns 225,661 shares of the company’s stock valued at $10,410,000 after purchasing an additional 22,907 shares in the last quarter. Mason & Associates Inc raised its holdings in shares of GraniteShares Gold Trust by 6.9% in the 2nd quarter. Mason & Associates Inc now owns 206,312 shares of the company’s stock valued at $8,156,000 after purchasing an additional 13,400 shares in the last quarter. Finally, Brendel Financial Advisors LLC lifted its position in shares of GraniteShares Gold Trust by 6.4% during the 3rd quarter. Brendel Financial Advisors LLC now owns 156,199 shares of the company’s stock worth $6,390,000 after purchasing an additional 9,446 shares during the last quarter.

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.