Empowered Funds LLC boosted its stake in shares of GraniteShares Gold Trust (NYSEARCA:BAR – Free Report) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225,661 shares of the company’s stock after purchasing an additional 22,907 shares during the period. Empowered Funds LLC owned about 0.64% of GraniteShares Gold Trust worth $10,410,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of BAR. Northwestern Mutual Wealth Management Co. increased its position in GraniteShares Gold Trust by 16,545.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,864,268 shares of the company’s stock worth $130,971,000 after buying an additional 2,847,061 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of GraniteShares Gold Trust by 264.2% during the 4th quarter. Bank of New York Mellon Corp now owns 698,687 shares of the company’s stock valued at $29,687,000 after buying an additional 506,856 shares in the last quarter. Ausdal Financial Partners Inc. bought a new position in shares of GraniteShares Gold Trust during the 2nd quarter valued at approximately $6,148,000. Advyzon Investment Management LLC grew its stake in shares of GraniteShares Gold Trust by 55.0% during the 4th quarter. Advyzon Investment Management LLC now owns 451,967 shares of the company’s stock valued at $19,204,000 after acquiring an additional 160,422 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in GraniteShares Gold Trust in the 3rd quarter worth approximately $1,914,000.
More GraniteShares Gold Trust News
Here are the key news stories impacting GraniteShares Gold Trust this week:
- Positive Sentiment: The Fed’s decision to hold rates steady provided relief for precious metals, while gold gained after the announcement. A weaker-than-expected second-quarter U.S. GDP reading of 1.5% also supports demand for gold as a defensive asset. Fed’s hawkish hold stabilizes gold and silver Gold price analysis after FOMC rate decision
- Positive Sentiment: Investment demand for bullion is showing signs of recovery, with the Royal Mint reporting stronger interest in digital gold and silver. Renewed retail demand could help support the underlying gold price and BAR. Retail investors buy the dip
- Neutral Sentiment: Gold is holding above approximately $4,000 per ounce, but analysts describe the market as rangebound. A sustained move above the $4,203 resistance area is viewed as necessary to confirm a broader bullish reversal. Gold price forecast and resistance outlook
- Negative Sentiment: The Fed’s stance remains relatively hawkish, and elevated yields could limit gold’s upside by increasing the opportunity cost of holding a non-yielding asset. Analysts expect uncertainty over inflation and interest rates to persist until at least September. Fed policy leaves precious metals in limbo
- Negative Sentiment: Consumers continue selling unwanted gold jewelry to take advantage of elevated prices, creating some physical-market supply and potentially limiting gains. Investors sell unwanted gold jewelry
GraniteShares Gold Trust Price Performance
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.
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