Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Reaches New 1-Year High – Time to Buy?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $29.50 and last traded at $29.47, with a volume of 235576 shares changing hands. The stock had previously closed at $29.08.

Van Eck Merk Gold Trust Stock Up 0.8 %

The firm has a market cap of $1.49 billion, a PE ratio of 6.97 and a beta of 0.20. The company’s 50 day moving average price is $27.98 and its two-hundred day moving average price is $26.42.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

Several institutional investors have recently made changes to their positions in OUNZ. Legacy Investment Solutions LLC purchased a new stake in shares of Van Eck Merk Gold Trust during the third quarter valued at about $27,000. Stonebridge Financial Group LLC purchased a new stake in Van Eck Merk Gold Trust during the fourth quarter valued at approximately $41,000. Tower Research Capital LLC TRC purchased a new stake in Van Eck Merk Gold Trust during the fourth quarter valued at approximately $47,000. Wells Fargo & Company MN grew its holdings in Van Eck Merk Gold Trust by 55.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,740 shares of the company’s stock worth $120,000 after purchasing an additional 1,682 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Van Eck Merk Gold Trust by 54.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,734 shares of the company’s stock worth $145,000 after purchasing an additional 2,020 shares in the last quarter.

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.