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

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $26.60 and last traded at $26.56, with a volume of 25719 shares trading hands. The stock had previously closed at $26.47.

Van Eck Merk Gold Trust Trading Up 0.5 %

The company has a market cap of $1.10 billion, a price-to-earnings ratio of 6.97 and a beta of 0.12. The stock’s 50-day moving average is $25.24 and its 200-day moving average is $23.73.

Institutional Investors Weigh In On Van Eck Merk Gold Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Starfox Financial Services LLC grew its stake in shares of Van Eck Merk Gold Trust by 2.1% in the 1st quarter. Starfox Financial Services LLC now owns 412,130 shares of the company’s stock valued at $9,504,000 after buying an additional 8,401 shares during the period. Smart Money Group LLC grew its stake in Van Eck Merk Gold Trust by 15.3% in the first quarter. Smart Money Group LLC now owns 121,581 shares of the company’s stock valued at $2,692,000 after acquiring an additional 16,170 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Van Eck Merk Gold Trust by 3.7% during the first quarter. Oppenheimer & Co. Inc. now owns 71,308 shares of the company’s stock valued at $1,532,000 after acquiring an additional 2,544 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Van Eck Merk Gold Trust during the first quarter worth approximately $1,889,000. Finally, Pitcairn Co. raised its position in shares of Van Eck Merk Gold Trust by 5.5% during the first quarter. Pitcairn Co. now owns 1,294,594 shares of the company’s stock worth $27,808,000 after purchasing an additional 67,561 shares during the period.

Van Eck Merk Gold Trust Company 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.