Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Sets New 52-Week High – What’s Next?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $28.09 and last traded at $28.06, with a volume of 1037725 shares changing hands. The stock had previously closed at $27.58.

Van Eck Merk Gold Trust Stock Performance

The firm has a 50-day moving average price of $25.96 and a two-hundred day moving average price of $25.31. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 6.97 and a beta of 0.12.

Institutional Trading of Van Eck Merk Gold Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OUNZ. Petra Financial Advisors Inc. boosted its holdings in shares of Van Eck Merk Gold Trust by 987.2% in the 4th quarter. Petra Financial Advisors Inc. now owns 132,664 shares of the company’s stock valued at $3,356,000 after buying an additional 120,462 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Van Eck Merk Gold Trust by 43.4% in the fourth quarter. Farther Finance Advisors LLC now owns 66,578 shares of the company’s stock valued at $1,684,000 after acquiring an additional 20,156 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Van Eck Merk Gold Trust in the 4th quarter valued at about $712,000. Warwick Investment Management Inc. grew its stake in Van Eck Merk Gold Trust by 8.3% during the 4th quarter. Warwick Investment Management Inc. now owns 54,436 shares of the company’s stock worth $1,377,000 after buying an additional 4,174 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new position in Van Eck Merk Gold Trust during the fourth quarter worth approximately $1,741,000.

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.