Brookstone Capital Management Takes $4.80 Million Position in VanEck Merk Gold ETF $OUNZ

Brookstone Capital Management bought a new stake in shares of VanEck Merk Gold ETF (NYSEARCA:OUNZ) during the 1st quarter, Holdings Channel.com reports. The firm bought 106,610 shares of the company’s stock, valued at approximately $4,803,000.

A number of other institutional investors have also recently added to or reduced their stakes in OUNZ. Mcguire Capital Advisors Inc. acquired a new stake in VanEck Merk Gold ETF in the 4th quarter valued at $37,000. Parallel Advisors LLC purchased a new stake in shares of VanEck Merk Gold ETF in the third quarter worth about $38,000. Brown Brothers Harriman & Co. acquired a new stake in shares of VanEck Merk Gold ETF in the fourth quarter valued at about $59,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of VanEck Merk Gold ETF during the 3rd quarter valued at about $56,000. Finally, Legacy Wealth Managment LLC ID raised its holdings in shares of VanEck Merk Gold ETF by 51.1% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 1,662 shares of the company’s stock valued at $69,000 after buying an additional 562 shares during the period.

VanEck Merk Gold ETF News Roundup

Here are the key news stories impacting VanEck Merk Gold ETF this week:

• Positive Sentiment: China’s gold imports jumped to a 26-month high in May, with year-to-date imports up 76%, signaling strong physical demand from the world’s largest gold market. China gold imports hit 26-month high in May, up 76% YTD
• Positive Sentiment: Some market commentators said the pullback in gold may be creating an attractive entry point for investors, suggesting the longer-term bullish case for bullion remains intact. Gold’s pullback creates attractive entry as de-dollarization turns structural – KMLM’s Prior
• Positive Sentiment: Gold has found support around key technical levels at times this week, and some reports note that a rebound could emerge if buyers defend those zones. Gold (XAU/USD) Price Forecast: Support Zone Faces Critical Test
• Neutral Sentiment: Gold briefly recovered from session lows after stronger-than-expected U.S. PMI data, showing that macro data is still driving volatile intraday moves. Spot gold rises from session lows as flash S&P composite PMI improves to 52.2
• Negative Sentiment: Multiple reports said gold is trading under pressure as the dollar hits new highs and markets price in higher odds of Federal Reserve tightening, which is hurting precious metals broadly. Gold (XAU/USD) Price Forecast: Strong Dollar, PCE Report Threaten More Downside
• Negative Sentiment: Wall Street strategists lowered gold price forecasts, citing weaker investor demand and a hawkish Fed, reinforcing the near-term headwind for bullion. BMO cuts gold price forecast as Fed’s hawkish shift weighs on precious metals
• Negative Sentiment: Comex gold settled lower and extended its losing streak, while broader precious-metals weakness has added to the drag on gold ETFs like OUNZ. Comex Gold Settles 1.24% Lower at $4129.90

VanEck Merk Gold ETF Stock Performance

VanEck Merk Gold ETF stock opened at $39.53 on Wednesday. The firm has a market capitalization of $2.50 billion, a PE ratio of 6.97 and a beta of 0.14. VanEck Merk Gold ETF has a one year low of $31.36 and a one year high of $53.35. The stock’s 50 day moving average price is $43.50 and its 200 day moving average price is $44.83.

VanEck Merk Gold ETF 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.