Van Eck Merk Gold Trust (NYSEARCA:OUNZ) Hits New 52-Week High – What’s Next?

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) hit 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 company’s 50 day simple moving average is $26.25 and its 200 day simple moving average is $25.51. The stock has a market cap of $1.16 billion, a P/E ratio of 6.97 and a beta of 0.12.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

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