Graniteshares Gold Trust (NYSEARCA:BAR) Sees Strong Trading Volume

Shares of Graniteshares Gold Trust (NYSEARCA:BAR) saw strong trading volume on Wednesday . 963,276 shares changed hands during trading, an increase of 25% from the previous session’s volume of 770,059 shares.The stock last traded at $23.43 and had previously closed at $23.61.

Graniteshares Gold Trust Trading Up 0.5 %

The firm has a 50-day moving average of $21.44 and a 200 day moving average of $20.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAR. JPMorgan Chase & Co. raised its stake in Graniteshares Gold Trust by 158.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,835 shares of the company’s stock valued at $54,000 after buying an additional 1,738 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in Graniteshares Gold Trust during the first quarter valued at $1,711,000. Bank of New York Mellon Corp purchased a new stake in Graniteshares Gold Trust during the first quarter valued at $21,735,000. Flow Traders U.S. LLC bought a new position in Graniteshares Gold Trust in the first quarter valued at about $379,000. Finally, Nations Financial Group Inc. IA ADV purchased a new position in Graniteshares Gold Trust in the first quarter worth about $1,643,000.

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.