Empowered Funds LLC Reduces Stake in GraniteShares Gold Trust $BAR

Empowered Funds LLC reduced its stake in shares of GraniteShares Gold Trust (NYSEARCA:BAR) by 57.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,550 shares of the company’s stock after selling 129,111 shares during the period. Empowered Funds LLC owned about 0.28% of GraniteShares Gold Trust worth $3,817,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Corient Private Wealth LP lifted its stake in GraniteShares Gold Trust by 1.8% in the second quarter. Corient Private Wealth LP now owns 17,084 shares of the company’s stock valued at $675,000 after purchasing an additional 308 shares during the last quarter. Compass Financial Management LLC purchased a new stake in GraniteShares Gold Trust in the second quarter worth $2,908,000. ALM First Financial Advisors LLC raised its stake in shares of GraniteShares Gold Trust by 20.7% in the second quarter. ALM First Financial Advisors LLC now owns 281,590 shares of the company’s stock valued at $11,131,000 after buying an additional 48,237 shares during the period. Evanson Financial LLC bought a new stake in shares of GraniteShares Gold Trust in the second quarter valued at $438,000. Finally, Inspirion Wealth Advisors LLC lifted its position in shares of GraniteShares Gold Trust by 1.5% during the 2nd quarter. Inspirion Wealth Advisors LLC now owns 41,045 shares of the company’s stock valued at $1,632,000 after buying an additional 600 shares during the last quarter.

GraniteShares Gold Trust Trading Down 2.9%

BAR stock opened at $42.56 on Wednesday. GraniteShares Gold Trust has a fifty-two week low of $34.32 and a fifty-two week high of $54.63. The stock has a fifty day moving average of $41.50 and a 200-day moving average of $44.55.

Key GraniteShares Gold Trust News

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

• Positive Sentiment: Longer-term support remains for gold from commodity-driven inflation, fiscal concerns and potential U.S. dollar debasement. Renewed geopolitical tensions involving Iran may also create safe-haven demand. Long-term gold price remains supported by commodity-led inflation – Saxo Bank’s Hansen Treasury bond buybacks soften U.S. dollar and boost gold
• Neutral Sentiment: Technical traders are watching support near $4,311-$4,350 per ounce after gold fell through its 20-day and 100-day moving averages. A successful defense could support a rebound, while a break lower would signal additional downside risk. Gold Price Tests Critical $4,311 Support After Sharp Drop
• Negative Sentiment: Near-term conditions are bearish: rising Treasury yields, a stronger dollar and increased expectations for Federal Reserve rate hikes are pressuring gold, a non-yielding asset. Gold fell below $4,500 and continued lower even after fighting resumed, indicating that monetary-policy concerns currently outweigh geopolitical safe-haven demand. Gold Price Outlook: What Gold Did When The Shooting Resumed Gold Price Hits 10-Day Low as Rising Yields Test Support Fed hawkishness outlook from TD Securities

GraniteShares Gold Trust 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.