Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 1-Year High – Should You Buy?

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 $26.47 and last traded at $26.45, with a volume of 59294 shares changing hands. The stock had previously closed at $26.26.

Van Eck Merk Gold Trust Stock Down 1.2 %

The company’s 50-day moving average is $24.99 and its 200-day moving average is $23.59. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 6.97 and a beta of 0.12.

Institutional Trading of Van Eck Merk Gold Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Silver Oak Securities Incorporated boosted its stake in Van Eck Merk Gold Trust by 50.7% during the third quarter. Silver Oak Securities Incorporated now owns 276,303 shares of the company’s stock worth $7,076,000 after buying an additional 92,918 shares during the period. Accordant Advisory Group Inc boosted its position in shares of Van Eck Merk Gold Trust by 5.0% during the 3rd quarter. Accordant Advisory Group Inc now owns 215,673 shares of the company’s stock worth $5,476,000 after purchasing an additional 10,256 shares during the period. Foundations Investment Advisors LLC increased its holdings in Van Eck Merk Gold Trust by 88.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 26,570 shares of the company’s stock valued at $675,000 after purchasing an additional 12,452 shares during the last quarter. Whitaker Myers Wealth Managers LTD. raised its position in Van Eck Merk Gold Trust by 10.5% in the third quarter. Whitaker Myers Wealth Managers LTD. now owns 14,812 shares of the company’s stock valued at $376,000 after purchasing an additional 1,412 shares during the period. Finally, Sloy Dahl & Holst LLC lifted its stake in Van Eck Merk Gold Trust by 15.5% during the third quarter. Sloy Dahl & Holst LLC now owns 28,795 shares of the company’s stock worth $731,000 after purchasing an additional 3,855 shares in 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.