Graniteshares Gold Trust (NYSEARCA:BAR) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Graniteshares Gold Trust (NYSEARCA:BAR)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $26.26 and traded as low as $25.62. Graniteshares Gold Trust shares last traded at $25.74, with a volume of 1,132,679 shares changing hands.

Graniteshares Gold Trust Stock Performance

The business’s 50 day moving average price is $26.26 and its 200-day moving average price is $25.17.

Institutional Trading of Graniteshares Gold Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Graniteshares Gold Trust by 142.8% during the 3rd quarter. Blue Trust Inc. now owns 4,662 shares of the company’s stock valued at $121,000 after acquiring an additional 2,742 shares during the last quarter. Abbrea Capital LLC bought a new position in shares of Graniteshares Gold Trust during the second quarter worth about $200,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Graniteshares Gold Trust in the third quarter worth about $200,000. Stratos Investment Management LLC bought a new stake in Graniteshares Gold Trust in the third quarter valued at about $210,000. Finally, ASB Consultores LLC acquired a new stake in Graniteshares Gold Trust during the second quarter valued at approximately $217,000.

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.