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

Van Eck Merk Gold Trust (NYSEARCA:OUNZ)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.50 and last traded at $29.47, with a volume of 235576 shares. The stock had previously closed at $29.08.

Van Eck Merk Gold Trust Stock Up 1.1 %

The firm has a 50 day moving average of $27.84 and a 200-day moving average of $26.36. The company has a market cap of $1.47 billion, a P/E ratio of 6.97 and a beta of 0.20.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new position in shares of Van Eck Merk Gold Trust in the 3rd quarter valued at $27,000. Stonebridge Financial Group LLC bought a new stake in Van Eck Merk Gold Trust during the fourth quarter valued at about $41,000. Tower Research Capital LLC TRC purchased a new position in Van Eck Merk Gold Trust in the fourth quarter valued at about $47,000. Wells Fargo & Company MN raised its holdings in Van Eck Merk Gold Trust by 55.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,740 shares of the company’s stock worth $120,000 after purchasing an additional 1,682 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Van Eck Merk Gold Trust by 54.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,734 shares of the company’s stock valued at $145,000 after buying an additional 2,020 shares during the last quarter.

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.