Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 1-Year High – Time to Buy?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) reached a new 52-week high during trading on Wednesday . The company traded as high as $29.34 and last traded at $29.26, with a volume of 1481819 shares traded. The stock had previously closed at $28.93.

Van Eck Merk Gold Trust Stock Up 1.1 %

The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 6.97 and a beta of 0.20. The firm’s 50 day moving average is $27.44 and its 200 day moving average is $26.16.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

A number of institutional investors and hedge funds have recently modified their holdings of OUNZ. Wealth Quarterback LLC lifted its stake in Van Eck Merk Gold Trust by 4.1% during the fourth quarter. Wealth Quarterback LLC now owns 12,513 shares of the company’s stock valued at $317,000 after buying an additional 496 shares in the last quarter. Two Sigma Securities LLC raised its holdings in shares of Van Eck Merk Gold Trust by 5.0% during the fourth quarter. Two Sigma Securities LLC now owns 11,462 shares of the company’s stock valued at $290,000 after acquiring an additional 545 shares during the period. Thompson Davis & CO. Inc. lifted its position in shares of Van Eck Merk Gold Trust by 6.9% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 11,665 shares of the company’s stock valued at $296,000 after acquiring an additional 750 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Van Eck Merk Gold Trust by 10.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,918 shares of the company’s stock worth $226,000 after purchasing an additional 866 shares during the period. Finally, Private Portfolio Partners LLC boosted its stake in Van Eck Merk Gold Trust by 3.3% in the 4th quarter. Private Portfolio Partners LLC now owns 30,661 shares of the company’s stock worth $776,000 after purchasing an additional 973 shares during the period.

Van Eck Merk Gold Trust Company Profile

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.