Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 52-Week High – Here’s Why

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s share price reached a new 52-week high on Thursday . The stock traded as high as $29.50 and last traded at $29.47, with a volume of 235576 shares trading hands. The stock had previously closed at $29.08.

Van Eck Merk Gold Trust Trading Up 1.1 %

The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 6.97 and a beta of 0.20. The stock’s fifty day moving average price is $27.84 and its 200-day moving average price is $26.36.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

A number of institutional investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Van Eck Merk Gold Trust in the 3rd quarter valued at $27,000. Stonebridge Financial Group LLC acquired a new position in Van Eck Merk Gold Trust in the 4th quarter valued at about $41,000. Tower Research Capital LLC TRC purchased a new stake in Van Eck Merk Gold Trust during the fourth quarter worth about $47,000. Wells Fargo & Company MN lifted its position in shares of Van Eck Merk Gold Trust by 55.0% during the fourth quarter. Wells Fargo & Company MN now owns 4,740 shares of the company’s stock worth $120,000 after purchasing an additional 1,682 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Van Eck Merk Gold Trust by 54.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,734 shares of the company’s stock valued at $145,000 after purchasing an additional 2,020 shares during the period.

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.