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

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $30.24 and last traded at $30.08, with a volume of 1623353 shares trading hands. The stock had previously closed at $30.14.

Van Eck Merk Gold Trust Trading Down 0.2 %

The company has a market cap of $1.51 billion, a price-to-earnings ratio of 6.97 and a beta of 0.17. The business’s 50 day moving average price is $28.14 and its 200-day moving average price is $26.52.

Institutional Trading of Van Eck Merk Gold Trust

Several hedge funds have recently added to or reduced their stakes in the company. Flow Traders U.S. LLC acquired a new stake in Van Eck Merk Gold Trust in the 3rd quarter worth about $295,000. HighTower Advisors LLC raised its position in shares of 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 valued at $8,938,000 after buying an additional 6,121 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Van Eck Merk Gold Trust during the third quarter worth approximately $764,000. Orion Portfolio Solutions LLC increased its stake in Van Eck Merk Gold Trust by 9.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 14,424 shares of the company’s stock worth $366,000 after acquiring an additional 1,274 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new position in Van Eck Merk Gold Trust in the 3rd quarter valued at $27,000.

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.