GraniteShares Gold Trust (NYSEARCA:BAR) Short Interest Update

GraniteShares Gold Trust (NYSEARCA:BAR) was the target of a significant decline in short interest in 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 daily trading volume, of 197,805 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.4% of the company’s shares are sold short.

More GraniteShares Gold Trust News

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

• Positive Sentiment: Some analysts say gold may be nearing a bottom, with reports noting the broader correction is mostly complete and that central bank buying could continue to support the metal over time. Gold Price Forecast: The Bottoming Process Continues as Bearishness Deepens
• Positive Sentiment: Gold briefly rebounded near the $4,000 level after softer inflation expectations and improved consumer sentiment, which can help stabilize sentiment for gold-backed funds like BAR. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Neutral Sentiment: New gold ETF products and commentary about leveraged gold funds do not directly affect BAR, but they show continued investor interest in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has fallen below or struggled to hold the psychologically important $4,000 level, with several reports pointing to weakening technical support and bearish momentum. Markets will find out next week how firm $4,000 is as a floor for gold
• Negative Sentiment: Stronger U.S. economic data, including better-than-expected jobless claims and Philadelphia Fed manufacturing figures, reduced safe-haven demand and added pressure to gold prices. Spot gold slides to session low $3.999/oz after Philly Fed survey rises to 41.4 in July

GraniteShares Gold Trust Trading Up 0.9%

BAR stock opened at $39.54 on Friday. GraniteShares Gold Trust has a 12-month low of $32.23 and a 12-month high of $54.63. The business’s fifty day moving average price is $42.23 and its 200 day moving average price is $45.54.

Hedge Funds Weigh In On GraniteShares Gold Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Leo Wealth LLC purchased a new position in shares of GraniteShares Gold Trust in the 4th quarter valued at about $980,000. Flynn Zito Capital Management LLC purchased a new stake in GraniteShares Gold Trust during the fourth quarter worth approximately $483,000. Capital Advisory Group Advisory Services LLC lifted its stake in GraniteShares Gold Trust by 45.7% during the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 153,843 shares of the company’s stock worth $6,537,000 after purchasing an additional 48,271 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in 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 boosted its holdings in GraniteShares Gold Trust by 16.7% in the fourth quarter. Maridea Wealth Management LLC now owns 214,922 shares of the company’s stock valued at $9,132,000 after purchasing an additional 30,737 shares in 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.