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

Shares of GraniteShares Gold Trust (NYSEARCA:BAR) reached a new 52-week low on Friday. The stock traded as low as $38.62 and last traded at $38.5540, with a volume of 40,449 shares traded. The stock had previously closed at $39.59.

GraniteShares Gold Trust Stock Down 3.0%

The company’s 50 day simple moving average is $42.05 and its 200-day simple moving average is $44.33.

Institutional Trading of GraniteShares Gold Trust

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its position in shares of 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 buying an additional 388 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of GraniteShares Gold Trust in the 2nd quarter valued at approximately $80,000. Fairvoy Private Wealth LLC purchased a new position in GraniteShares Gold Trust during the third quarter worth $203,000. Whittier Trust Co. bought a new position in GraniteShares Gold Trust during the 1st quarter valued at about $245,000. Finally, World Investment Advisors grew its position in GraniteShares Gold Trust by 9.6% in the 1st quarter. World Investment Advisors now owns 6,212 shares of the company’s stock valued at $287,000 after acquiring an additional 544 shares during 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.