Short Interest in GraniteShares Gold Trust (NYSEARCA:BAR) Declines By 36.6%

GraniteShares Gold Trust (NYSEARCA:BAR) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 129,560 shares, a decline of 36.6% from the June 15th total of 204,265 shares. Based on an average trading volume of 197,805 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.4% of the shares of the company are short sold.

Hedge Funds Weigh In On GraniteShares Gold Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Leo Wealth LLC acquired a new stake in GraniteShares Gold Trust during the 4th quarter valued at approximately $980,000. Flynn Zito Capital Management LLC acquired a new stake in shares of GraniteShares Gold Trust in the fourth quarter worth $483,000. Capital Advisory Group Advisory Services LLC increased its stake in shares of GraniteShares Gold Trust by 45.7% in the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 153,843 shares of the company’s stock worth $6,537,000 after acquiring an additional 48,271 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of GraniteShares Gold Trust by 3.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 463,694 shares of the company’s stock worth $19,702,000 after purchasing an additional 13,833 shares during the last quarter. Finally, Maridea Wealth Management LLC raised its holdings in shares of GraniteShares Gold Trust by 16.7% during the fourth quarter. Maridea Wealth Management LLC now owns 214,922 shares of the company’s stock worth $9,132,000 after purchasing an additional 30,737 shares during the last quarter.

More GraniteShares Gold Trust News

Here are the key news stories impacting GraniteShares Gold Trust this week:

• Positive Sentiment: Gold briefly found support near $4,000 after U.S. consumer sentiment improved and one-year inflation expectations eased, which can help revive demand for gold as an inflation hedge. Article Title
• Positive Sentiment: Some analysts say the recent gold pullback may be close to ending, and longer-term bullish drivers such as central bank buying and sovereign demand remain in place. Article Title
• Neutral Sentiment: Several commentaries noted that gold remains in a technical consolidation phase, with some forecasts calling for support to hold while others warn of further downside; this keeps investor sentiment mixed. Article Title
• Negative Sentiment: Gold has been under pressure from stronger-than-expected U.S. economic data, including better jobless claims and a stronger Philly Fed survey, which reduced safe-haven demand and pushed prices lower. Article Title
• Negative Sentiment: Gold has also faced headwinds from a stabilizing dollar, higher Treasury yields, and expectations for continued restrictive Fed policy, all of which tend to weigh on bullion and gold-backed ETFs. Article Title

GraniteShares Gold Trust Stock Up 0.8%

Shares of BAR stock traded up $0.33 during mid-day trading on Friday, reaching $39.50. The stock had a trading volume of 85,573 shares, compared to its average volume of 754,463. The business’s fifty day moving average is $42.37 and its 200-day moving average is $45.58. GraniteShares Gold Trust has a 1-year low of $32.23 and a 1-year high of $54.63.

GraniteShares Gold Trust Company Profile

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.