Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 52-Week High – What’s Next?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) hit a new 52-week high on Thursday . The company traded as high as $26.96 and last traded at $26.97, with a volume of 420842 shares changing hands. The stock had previously closed at $26.59.

Van Eck Merk Gold Trust Stock Performance

The company has a market cap of $1.10 billion, a P/E ratio of 6.97 and a beta of 0.12. The stock has a 50-day moving average of $25.75 and a two-hundred day moving average of $25.15.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

Hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC raised its position in Van Eck Merk Gold Trust by 1.8% in the 3rd quarter. HighTower Advisors LLC now owns 352,081 shares of the company’s stock worth $8,938,000 after purchasing an additional 6,121 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Van Eck Merk Gold Trust by 1.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,256 shares of the company’s stock worth $19,201,000 after buying an additional 9,085 shares during the period. SFG Wealth Management LLC. lifted its stake in shares of Van Eck Merk Gold Trust by 179.7% in the 3rd quarter. SFG Wealth Management LLC. now owns 88,951 shares of the company’s stock valued at $2,258,000 after acquiring an additional 57,152 shares during the last quarter. Thompson Davis & CO. Inc. boosted its holdings in Van Eck Merk Gold Trust by 6.9% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 11,665 shares of the company’s stock valued at $296,000 after acquiring an additional 750 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Van Eck Merk Gold Trust during the 3rd quarter worth approximately $764,000.

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.