Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 12-Month High – Time to Buy?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $28.47 and last traded at $28.46, with a volume of 51193 shares trading hands. The stock had previously closed at $28.26.

Van Eck Merk Gold Trust Trading Up 1.6 %

The firm has a 50-day moving average of $27.17 and a 200 day moving average of $26.02. The company has a market cap of $1.42 billion, a P/E ratio of 6.97 and a beta of 0.20.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. bought a new stake in shares of Van Eck Merk Gold Trust during the 4th quarter valued at about $228,000. HighTower Advisors LLC boosted its holdings in Van Eck Merk Gold Trust by 1.8% in the third quarter. HighTower Advisors LLC now owns 352,081 shares of the company’s stock worth $8,938,000 after acquiring an additional 6,121 shares in the last quarter. Smart Money Group LLC boosted its holdings in Van Eck Merk Gold Trust by 15.0% in the fourth quarter. Smart Money Group LLC now owns 153,016 shares of the company’s stock worth $3,871,000 after acquiring an additional 20,003 shares in the last quarter. Accordant Advisory Group Inc boosted its holdings in Van Eck Merk Gold Trust by 4.7% in the fourth quarter. Accordant Advisory Group Inc now owns 225,717 shares of the company’s stock worth $5,711,000 after acquiring an additional 10,044 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Van Eck Merk Gold Trust by 68.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 119,858 shares of the company’s stock worth $3,032,000 after acquiring an additional 48,873 shares in the last quarter.

Van Eck Merk Gold Trust Company Profile

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.