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

Van Eck Merk Gold Trust (NYSEARCA:OUNZ) 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 changing hands. The stock had previously closed at $26.47.

Van Eck Merk Gold Trust Stock Up 0.8 %

The firm has a market cap of $1.09 billion, a PE ratio of 6.97 and a beta of 0.12. The firm has a 50-day moving average price of $25.14 and a two-hundred day moving average price of $23.68.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of Van Eck Merk Gold Trust by 4.6% in the second quarter. LPL Financial LLC now owns 1,666,871 shares of the company’s stock valued at $37,438,000 after purchasing an additional 73,213 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Van Eck Merk Gold Trust by 103.2% in the second quarter. Cetera Investment Advisers now owns 1,495,062 shares of the company’s stock valued at $33,579,000 after purchasing an additional 759,192 shares during the last quarter. Pitcairn Co. increased its holdings in shares of Van Eck Merk Gold Trust by 5.5% in the first quarter. Pitcairn Co. now owns 1,294,594 shares of the company’s stock valued at $27,808,000 after purchasing an additional 67,561 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Van Eck Merk Gold Trust by 1.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 756,256 shares of the company’s stock valued at $19,201,000 after purchasing an additional 9,085 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Van Eck Merk Gold Trust by 70.5% in the second quarter. Envestnet Asset Management Inc. now owns 699,438 shares of the company’s stock valued at $15,709,000 after purchasing an additional 289,147 shares during 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.