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

VanEck Merk Gold ETF (NYSEARCA:OUNZ) hit a new 52-week low during trading on Thursday. The stock traded as low as $37.00 and last traded at $37.0940, with a volume of 155,208 shares trading hands. The stock had previously closed at $38.28.

Trending Headlines about VanEck Merk Gold ETF

These are some of the OUNZ headlines that stood out recently:

• Positive Sentiment: Central-bank buying remains a potential source of support for gold, with China continuing to add to its reserves. China buys gold for two straight years as central bank demand remains a key pillar of support
• Positive Sentiment: Standard Chartered sees potential for gold to rally by year-end, offering a bullish counterpoint to the near-term selling pressure. Gold prices find solid support at $4,000 as Standard Chartered sees rally to $4,650 by year-end
• Neutral Sentiment: Short interest in OUNZ rose 79.1% between mid- and late October, but shorted shares represented only about 0.7% of shares outstanding, limiting the significance of the increase.

VanEck Merk Gold ETF Stock Performance

The stock has a 50 day moving average of $40.13 and a two-hundred day moving average of $42.98. The stock has a market cap of $2.50 billion, a PE ratio of 6.97 and a beta of 0.19.

Institutional Investors Weigh In On VanEck Merk Gold ETF

Institutional investors have recently modified their holdings of the stock. Ferguson Shapiro LLC bought a new position in VanEck Merk Gold ETF during the second quarter valued at approximately $3,042,000. Solstein Capital LLC raised its holdings in shares of VanEck Merk Gold ETF by 7.8% during the 2nd quarter. Solstein Capital LLC now owns 280,248 shares of the company’s stock valued at $10,815,000 after purchasing an additional 20,294 shares in the last quarter. Terra Nova Asset Management LLC raised its holdings in shares of VanEck Merk Gold ETF by 35.0% during the 3rd quarter. Terra Nova Asset Management LLC now owns 75,190 shares of the company’s stock valued at $3,000,000 after purchasing an additional 19,495 shares in the last quarter. Tucker Asset Management LLC raised its holdings in shares of VanEck Merk Gold ETF by 106.3% during the 2nd quarter. Tucker Asset Management LLC now owns 26,819 shares of the company’s stock valued at $1,035,000 after purchasing an additional 13,818 shares in the last quarter. Finally, Crescent Grove Advisors LLC acquired a new stake in shares of VanEck Merk Gold ETF in the 1st quarter valued at $1,611,000.

About VanEck Merk Gold ETF

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.