Envestnet Asset Management Inc. Buys 289,147 Shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ)

Envestnet Asset Management Inc. grew its stake in Van Eck Merk Gold Trust (NYSEARCA:OUNZ) by 70.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,438 shares of the company’s stock after acquiring an additional 289,147 shares during the period. Envestnet Asset Management Inc. owned 1.71% of Van Eck Merk Gold Trust worth $15,709,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. ICA Group Wealth Management LLC grew its holdings in shares of Van Eck Merk Gold Trust by 30.8% in the 4th quarter. ICA Group Wealth Management LLC now owns 61,992 shares of the company’s stock valued at $1,237,000 after acquiring an additional 14,602 shares in the last quarter. Security National Bank lifted its stake in Van Eck Merk Gold Trust by 127.6% in the 4th quarter. Security National Bank now owns 33,318 shares of the company’s stock valued at $665,000 after purchasing an additional 18,678 shares during the last quarter. Brookstone Capital Management lifted its stake in Van Eck Merk Gold Trust by 11.4% in the 1st quarter. Brookstone Capital Management now owns 17,409 shares of the company’s stock valued at $374,000 after purchasing an additional 1,788 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Van Eck Merk Gold Trust by 18.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 351,807 shares of the company’s stock valued at $7,557,000 after purchasing an additional 54,610 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its stake in Van Eck Merk Gold Trust by 1,530.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 234,898 shares of the company’s stock valued at $5,276,000 after purchasing an additional 220,493 shares during the last quarter.

Van Eck Merk Gold Trust Stock Performance

Shares of NYSEARCA:OUNZ opened at $25.70 on Wednesday. Van Eck Merk Gold Trust has a 52-week low of $17.56 and a 52-week high of $25.73. The company has a market capitalization of $1.05 billion, a P/E ratio of 6.97 and a beta of 0.12. The company has a 50-day simple moving average of $23.99 and a 200 day simple moving average of $22.95.

About Van Eck Merk Gold Trust

The VanEck Merk Gold Trust (OUNZ) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less expenses, using gold bars and coins held in London vaults. Investors can redeem their shares for gold in increments of 1 troy oz. OUNZ was launched on May 16, 2014 and is managed by VanEck.