GraniteShares Gold Trust (NYSEARCA:BAR) Reaches New 12-Month Low – Here’s What Happened

GraniteShares Gold Trust (NYSEARCA:BAR)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $37.92 and last traded at $38.0150, with a volume of 38,767 shares. The stock had previously closed at $39.21.

GraniteShares Gold Trust Stock Down 2.8%

The stock has a fifty day moving average of $41.11 and a 200-day moving average of $44.02.

Institutional Investors Weigh In On GraniteShares Gold Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. raised its stake in GraniteShares Gold Trust by 67.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 965 shares of the company’s stock valued at $39,000 after acquiring an additional 388 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of GraniteShares Gold Trust during the second quarter worth $80,000. Investment Management Corp VA ADV acquired a new stake in shares of GraniteShares Gold Trust during the third quarter worth $202,000. Fairvoy Private Wealth LLC purchased a new position in GraniteShares Gold Trust in the 3rd quarter valued at $203,000. Finally, Fifth Third Bancorp purchased a new position in GraniteShares Gold Trust in the 1st quarter valued at $342,000.

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.