VanEck Merk Gold ETF (NYSEARCA:OUNZ) Hits New 52-Week High – Here’s What Happened

VanEck Merk Gold ETF (NYSEARCA:OUNZGet Free Report)’s stock price hit a new 52-week high on Monday . The company traded as high as $44.38 and last traded at $44.4250, with a volume of 160684 shares. The stock had previously closed at $43.38.

VanEck Merk Gold ETF News Summary

Here are the key news stories impacting VanEck Merk Gold ETF this week:

VanEck Merk Gold ETF Stock Performance

The firm has a market capitalization of $2.65 billion, a P/E ratio of 6.97 and a beta of 0.08. The firm has a 50 day moving average price of $40.83 and a two-hundred day moving average price of $36.86.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Abbington Investment Group purchased a new stake in VanEck Merk Gold ETF in the 3rd quarter worth about $499,000. Envestnet Asset Management Inc. grew its stake in VanEck Merk Gold ETF by 11.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 919,041 shares of the company’s stock valued at $29,308,000 after acquiring an additional 97,050 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of VanEck Merk Gold ETF by 16.9% in the 2nd quarter. Advisory Services Network LLC now owns 166,729 shares of the company’s stock valued at $5,285,000 after purchasing an additional 24,094 shares during the period. Faithward Advisors LLC increased its holdings in shares of VanEck Merk Gold ETF by 12.3% in the 2nd quarter. Faithward Advisors LLC now owns 120,636 shares of the company’s stock valued at $3,847,000 after purchasing an additional 13,219 shares during the period. Finally, Petra Financial Advisors Inc. lifted its position in shares of VanEck Merk Gold ETF by 1.6% in the second quarter. Petra Financial Advisors Inc. now owns 140,130 shares of the company’s stock worth $4,469,000 after purchasing an additional 2,178 shares in the last quarter.

VanEck Merk Gold ETF Company Profile

(Get Free Report)

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.

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