Graniteshares Gold Trust (NYSEARCA:BAR) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Graniteshares Gold Trust (NYSEARCA:BAR)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $26.16 and traded as high as $26.28. Graniteshares Gold Trust shares last traded at $26.15, with a volume of 1,438,288 shares traded.

Graniteshares Gold Trust Stock Performance

The business’s 50-day moving average price is $26.14 and its 200-day moving average price is $25.29.

Institutional Investors Weigh In On Graniteshares Gold Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Graniteshares Gold Trust by 280.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 156,000 shares of the company’s stock worth $4,051,000 after purchasing an additional 115,000 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Graniteshares Gold Trust by 279.2% during the 2nd quarter. Renaissance Technologies LLC now owns 72,800 shares of the company’s stock valued at $1,671,000 after buying an additional 53,600 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Graniteshares Gold Trust during the second quarter valued at approximately $1,173,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Graniteshares Gold Trust in the second quarter worth $979,000. Finally, Alpha Financial Partners LLC purchased a new stake in Graniteshares Gold Trust in the 3rd quarter worth $446,000.

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.