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

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.26 and last traded at $28.20, with a volume of 1801 shares changing hands. The stock had previously closed at $27.83.

Van Eck Merk Gold Trust Price Performance

The stock has a 50-day moving average of $26.34 and a 200 day moving average of $25.57. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.97 and a beta of 0.12.

Institutional Trading of Van Eck Merk Gold Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Van Eck Merk Gold Trust by 54.4% in 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 during the period. Cetera Investment Advisers grew its position in shares of Van Eck Merk Gold Trust by 3.5% during the 4th quarter. Cetera Investment Advisers now owns 1,608,488 shares of the company’s stock worth $40,695,000 after buying an additional 54,445 shares during the period. Ameriprise Financial Inc. grew its position in shares of Van Eck Merk Gold Trust by 4.6% during the 4th quarter. Ameriprise Financial Inc. now owns 616,422 shares of the company’s stock worth $15,595,000 after buying an additional 27,185 shares during the period. Merk Investments LLC grew its position in shares of Van Eck Merk Gold Trust by 37.3% during the 4th quarter. Merk Investments LLC now owns 19,763 shares of the company’s stock worth $500,000 after buying an additional 5,371 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Van Eck Merk Gold Trust during the 4th quarter worth about $5,096,000.

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.