Northwestern Mutual Wealth Management Co. Grows Stock Holdings in GraniteShares Gold Trust $BAR

Northwestern Mutual Wealth Management Co. raised its position in shares of GraniteShares Gold Trust (NYSEARCA:BAR) by 16,545.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,864,268 shares of the company’s stock after buying an additional 2,847,061 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.08% of GraniteShares Gold Trust worth $130,971,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of GraniteShares Gold Trust during the third quarter valued at about $81,000. Citadel Advisors LLC purchased a new stake in shares of GraniteShares Gold Trust during the third quarter valued at about $201,000. Investment Management Corp VA ADV purchased a new stake in shares of GraniteShares Gold Trust during the fourth quarter valued at about $209,000. Moneco Advisors LLC acquired a new position in shares of GraniteShares Gold Trust during the fourth quarter valued at about $212,000. Finally, IFP Advisors Inc increased its holdings in shares of GraniteShares Gold Trust by 11.9% during the third quarter. IFP Advisors Inc now owns 5,681 shares of the company’s stock valued at $216,000 after acquiring an additional 604 shares in the last quarter.

GraniteShares Gold Trust Stock Performance

BAR opened at $44.75 on Friday. GraniteShares Gold Trust has a 52-week low of $31.23 and a 52-week high of $54.63. The firm’s 50-day moving average price is $46.70 and its 200-day moving average price is $45.33.

GraniteShares Gold Trust News Roundup

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

• Negative Sentiment: Gold broke below key support levels, with several reports citing a bearish breakdown under $4,600 and the risk of a deeper pullback toward major technical support. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support
• Negative Sentiment: Several articles pointed to dollar strength and higher yields as the biggest headwinds, with the dollar pushing toward new highs and Treasury yields rising sharply. Gold News: Gold Price Breaks Lower as Dollar Hits 99 and Yields Surge
• Negative Sentiment: Hot inflation data and stronger economic readings, including a rising New York Empire State survey and better U.S. retail sales, reduced hopes for rate cuts and weighed on gold sentiment. Gold could see further headwinds as New York Empire State Survey rises to 19.6
• Neutral Sentiment: Some reports noted intermittent support from geopolitical uncertainty and safe-haven demand, but that buying has not been enough to offset the macro pressure on gold. Gold Prices Rise on Strong Demand

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.