Gilpin Wealth Management LLC Makes New $669,000 Investment in VanEck Merk Gold ETF $OUNZ

Gilpin Wealth Management LLC purchased a new stake in VanEck Merk Gold ETF (NYSEARCA:OUNZ) during the 3rd quarter, Holdings Channel reports. The firm purchased 16,769 shares of the company’s stock, valued at approximately $669,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC acquired a new position in shares of VanEck Merk Gold ETF during the 2nd quarter worth about $31,000. Scarborough Advisors LLC bought a new position in shares of VanEck Merk Gold ETF in the 1st quarter valued at about $58,000. Mascoma Wealth Management LLC acquired a new stake in shares of VanEck Merk Gold ETF in the first quarter valued at about $193,000. Ethos Financial Group LLC bought a new stake in VanEck Merk Gold ETF during the first quarter worth about $215,000. Finally, MidFirst Bank bought a new stake in VanEck Merk Gold ETF during the fourth quarter worth about $207,000.

VanEck Merk Gold ETF Stock Performance

Shares of NYSEARCA OUNZ opened at $40.30 on Friday. The stock has a 50 day moving average price of $41.67 and a 200 day moving average price of $42.08. VanEck Merk Gold ETF has a 52 week low of $37.69 and a 52 week high of $53.35. The stock has a market capitalization of $2.71 billion, a PE ratio of 6.97 and a beta of 0.18.

Key Stories Impacting VanEck Merk Gold ETF

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

• Positive Sentiment: Gold rebounded sharply toward the $4,200-per-ounce level after falling yields, a weaker dollar and bargain buying offset pressure from elevated rate expectations. A sustained move above $4,200 could improve momentum for gold-linked funds such as OUNZ. Gold tests $4,200 as weak sentiment offsets sticky inflation expectations
• Positive Sentiment: Gold also benefited from weaker U.S. consumer sentiment and ongoing concerns about inflation, while potential continued purchases by China’s central bank supported demand expectations. Gold price trades near high after preliminary Consumer Sentiment falls
• Positive Sentiment: Short interest in OUNZ fell 64.8% between September 15 and September 30, leaving only 0.4% of shares sold short and a 0.4-day days-to-cover ratio. The decline reduces potential short-selling pressure, although it is not by itself a guarantee of further gains.
• Positive Sentiment: Analysts continue to point to longer-term support from central-bank diversification away from dollar assets, inflation concerns and fresh precious-metals ETF inflows. Technical forecasts identify a possible bullish reversal if gold breaks key resistance near $4,200-$4,226. Gold gains ground as central banks retreat from dollar assets
• Neutral Sentiment: Wall Street sentiment has improved to nearly a bullish majority, but fewer than half of individual investors expect gold to rise next week. Upcoming inflation data could determine whether the rebound develops into a sustained breakout. Wall Street nears bullish majority after gold’s late-week rally
• Negative Sentiment: Gold remains vulnerable to renewed selling if Treasury yields rise or markets increase bets on another Federal Reserve rate hike. Stronger-than-expected job data and persistent inflation have recently pressured the non-yielding metal, with support near $4,100 viewed as important. Gold rebounds but yield risk still caps upside

VanEck Merk Gold ETF 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.