Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Sees Unusually-High Trading Volume

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) shares saw unusually-strong trading volume on Wednesday . Approximately 1,363,923 shares were traded during trading, an increase of 22% from the previous session’s volume of 1,117,317 shares.The stock last traded at $22.92 and had previously closed at $23.11.

Van Eck Merk Gold Trust Trading Up 0.6 %

The business’s 50-day simple moving average is $20.98 and its 200 day simple moving average is $19.88. The company has a market capitalization of $929.77 million, a P/E ratio of 6.97 and a beta of 0.12.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OUNZ. Benjamin F. Edwards & Company Inc. boosted its position in shares of Van Eck Merk Gold Trust by 67.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,536 shares of the company’s stock valued at $29,000 after purchasing an additional 617 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Van Eck Merk Gold Trust by 165.4% during the second quarter. IFP Advisors Inc now owns 2,038 shares of the company’s stock valued at $38,000 after purchasing an additional 1,270 shares during the last quarter. UBS Group AG increased its stake in Van Eck Merk Gold Trust by 300.3% in the 1st quarter. UBS Group AG now owns 5,824 shares of the company’s stock worth $111,000 after purchasing an additional 4,369 shares in the last quarter. Harbour Investments Inc. raised its holdings in Van Eck Merk Gold Trust by 534.9% during the 4th quarter. Harbour Investments Inc. now owns 7,828 shares of the company’s stock worth $156,000 after buying an additional 6,595 shares during the period. Finally, Northwest Financial Advisors purchased a new stake in Van Eck Merk Gold Trust during the fourth quarter valued at about $162,000.

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.