Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Sets New 1-Year High – What’s Next?

Shares of Van Eck Merk Gold Trust (NYSEARCA:OUNZ) hit a new 52-week high on Tuesday . The company traded as high as $26.47 and last traded at $26.45, with a volume of 59294 shares trading hands. The stock had previously closed at $26.26.

Van Eck Merk Gold Trust Stock Up 0.6 %

The firm has a 50-day moving average of $24.88 and a two-hundred day moving average of $23.55. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 6.97 and a beta of 0.12.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. acquired a new position in Van Eck Merk Gold Trust in the 4th quarter worth about $538,000. Brookstone Capital Management grew its stake in shares of Van Eck Merk Gold Trust by 11.4% in the 1st quarter. Brookstone Capital Management now owns 17,409 shares of the company’s stock valued at $374,000 after buying an additional 1,788 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Van Eck Merk Gold Trust by 18.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 351,807 shares of the company’s stock worth $7,557,000 after buying an additional 54,610 shares during the last quarter. Tower Wealth Partners Inc. raised its position in Van Eck Merk Gold Trust by 1.8% during the first quarter. Tower Wealth Partners Inc. now owns 54,474 shares of the company’s stock valued at $1,170,000 after acquiring an additional 965 shares in the last quarter. Finally, Sloy Dahl & Holst LLC lifted its stake in Van Eck Merk Gold Trust by 2.2% in the first quarter. Sloy Dahl & Holst LLC now owns 23,590 shares of the company’s stock valued at $507,000 after acquiring an additional 500 shares during the last quarter.

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.