Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Sees Large Volume Increase

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) saw unusually-high trading volume on Wednesday . Approximately 1,363,923 shares changed hands during trading, an increase of 22% from the previous session’s volume of 1,117,317 shares.The stock last traded at $22.92 and had previously closed at $23.11.

Van Eck Merk Gold Trust Price Performance

The stock’s 50-day moving average is $20.98 and its 200 day moving average is $19.88. The stock has a market cap of $929.77 million, a price-to-earnings ratio of 6.97 and a beta of 0.12.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

Several institutional investors have recently made changes to their positions in OUNZ. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Van Eck Merk Gold Trust by 200.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 46,104 shares of the company’s stock valued at $868,000 after purchasing an additional 30,762 shares in the last quarter. Mather Group LLC. increased its holdings in Van Eck Merk Gold Trust by 108.1% in the first quarter. Mather Group LLC. now owns 37,620 shares of the company’s stock valued at $708,000 after buying an additional 19,543 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Van Eck Merk Gold Trust by 46.8% during the 1st quarter. Renaissance Technologies LLC now owns 27,900 shares of the company’s stock valued at $525,000 after acquiring an additional 8,900 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in shares of Van Eck Merk Gold Trust during the 1st quarter valued at approximately $1,232,000. Finally, Jane Street Group LLC acquired a new stake in Van Eck Merk Gold Trust in the 2nd quarter valued at about $3,367,000.

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.