Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Sets New 12-Month High – Here’s Why

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

Van Eck Merk Gold Trust Stock Performance

The business has a 50 day simple moving average of $25.96 and a 200-day simple moving average of $25.31. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.97 and a beta of 0.12.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

Institutional investors have recently bought and sold shares of the company. Petra Financial Advisors Inc. lifted its stake 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 purchasing an additional 120,462 shares during the last quarter. Farther Finance Advisors LLC lifted its position 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 buying an additional 20,156 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Van Eck Merk Gold Trust during the fourth quarter worth about $712,000. Warwick Investment Management Inc. boosted its stake in Van Eck Merk Gold Trust by 8.3% during the fourth 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 period. Finally, Independent Advisor Alliance acquired a new stake in shares of Van Eck Merk Gold Trust during the fourth quarter valued at about $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.