Short Interest in GraniteShares Gold Trust (NYSEARCA:BAR) Declines By 36.6%

GraniteShares Gold Trust (NYSEARCA:BAR) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 129,560 shares, a drop of 36.6% from the June 15th total of 204,265 shares. Based on an average trading volume of 197,805 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.4% of the company’s stock are sold short.

GraniteShares Gold Trust Trading Up 0.8%

Shares of NYSEARCA BAR traded up $0.33 during mid-day trading on Friday, reaching $39.50. 85,573 shares of the company were exchanged, compared to its average volume of 754,463. GraniteShares Gold Trust has a 1 year low of $32.23 and a 1 year high of $54.63. The firm has a 50-day moving average of $42.37 and a 200 day moving average of $45.58.

Institutional Trading of GraniteShares Gold Trust

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

Trending Headlines about GraniteShares Gold Trust

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

• Positive Sentiment: Gold briefly found support near $4,000 after U.S. consumer sentiment improved and one-year inflation expectations eased, which can help revive demand for gold as an inflation hedge. Article Title
• Positive Sentiment: Some analysts say the recent gold pullback may be close to ending, and longer-term bullish drivers such as central bank buying and sovereign demand remain in place. Article Title
• Neutral Sentiment: Several commentaries noted that gold remains in a technical consolidation phase, with some forecasts calling for support to hold while others warn of further downside; this keeps investor sentiment mixed. Article Title
• Negative Sentiment: Gold has been under pressure from stronger-than-expected U.S. economic data, including better jobless claims and a stronger Philly Fed survey, which reduced safe-haven demand and pushed prices lower. Article Title
• Negative Sentiment: Gold has also faced headwinds from a stabilizing dollar, higher Treasury yields, and expectations for continued restrictive Fed policy, all of which tend to weigh on bullion and gold-backed ETFs. Article Title

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.