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 during trading on Thursday . The company traded as high as $26.96 and last traded at $26.97, with a volume of 420842 shares. The stock had previously closed at $26.59.

Van Eck Merk Gold Trust Stock Up 1.4 %

The firm has a market cap of $1.10 billion, a PE ratio of 6.97 and a beta of 0.12. The firm’s fifty day simple moving average is $25.71 and its two-hundred day simple moving average is $25.11.

Hedge Funds Weigh In On Van Eck Merk Gold Trust

A number of hedge funds have recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new stake in shares of Van Eck Merk Gold Trust in the third quarter worth about $27,000. Stonebridge Financial Group LLC purchased a new stake in Van Eck Merk Gold Trust during the fourth quarter valued at $41,000. Armstrong Advisory Group Inc. purchased a new position in shares of Van Eck Merk Gold Trust in the 3rd quarter worth $50,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Van Eck Merk Gold Trust by 32.7% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 6,430 shares of the company’s stock worth $163,000 after buying an additional 1,585 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Van Eck Merk Gold Trust during the 4th quarter valued at about $175,000.

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.